By Jennifer Chiou
New York, Nov. 20 - Katanga Mining Ltd. announced the completion of a C$115 million offering of units, each consisting of a C$1,000 note due Nov. 30, 2013 and 40 common share purchase warrants.
Included in the issue was a fully exercised greenshoe for an additional C$15 million of units.
The notes bear interest at 14%, which will be payable beginning Jan. 1, 2008.
Each warrant entitles the holder to purchase one Katanga share anytime on or before Nov. 20, 2011 at C$8.50 per share.
GMP Securities LP led a syndicate of underwriters that included Sprott Securities Inc, Haywood Securities Inc., RBC Capital Markets, CIBC World Markets Inc. and Dundee Securities Corp.
The Toronto-based mineral exploration company said net proceeds are intended for the continued refurbishment and development of the Kamoto/Dima mining complex in the Democratic Republic of Congo and for general corporate purposes.
| Issuer: | Katanga Mining Ltd.
|
| Issue: | Units with warrants
|
| Amount: | C$115 million (including C$15 million greenshoe)
|
| Maturity: | Nov. 30, 2013
|
| Coupon: | 14%
|
| Units: | 100,000
|
| Price: | C$1,000
|
| Greenshoe: | 15,000 units
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| Warrants: | For one share each at C$8.50
|
| Warrant expiration: | Five years
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| Pricing date: | Nov. 10
|
| Settlement date: | Nov. 20
|
| Underwriters: | GMP Securities LP (lead); Sprott Securities Inc, Haywood Securities Inc., RBC Capital Markets, CIBC World Markets Inc., Dundee Securities Corp.
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