By Sheri Kasprzak
New York, May 2 - Katanga Mining Ltd. has settled, with the greenshoe, its previously announced private placement for C$152.25 million.
The company issued 21 million subscription receipts at C$7.25 each, including the over-allotment option for 7 million receipts exercised by a syndicate of underwriters led by GMP Securities LP and including RBC Dominion Securities Inc., Haywood Securities Inc., Sprott Securities Inc., Dundee Securities Corp. and Paradigm Capital Inc.
The receipts are exchangeable for one common share once the completion of Katanga's acquisition of Kinross Forrest Ltd.
The deal priced April 13 as a C$101.5 million offering of 14 million receipts.
Proceeds will be used for exploration and development of the company's Kamoto/Dima mining complex in the Democratic Republic of Congo. The rest will be used for working capital and general corporate purposes.
Toronto-based Katanga is a mineral exploration company.
| Issuer: | Katanga Mining Ltd.
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| Issue: | Subscription receipts exchangeable for common stock
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| Amount: | C$152.25 million
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| Receipts: | 21 million (includes greenshoe 7 million receipts)
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| Price: | C$7.25
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| Warrants: | No
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| Underwriters: | GMP Securities LP (lead), RBC Dominion Securities Inc., Haywood Securities Inc., Sprott Securities Inc., Dundee Securities Corp., Paradigm Capital Inc.
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| Pricing date: | April 13
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| Settlement date: | May 2
|
| Stock symbol: | TSX Venture: KAT
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| Stock price: | C$7.70 at close April 12
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| Stock price: | C$7.15 at close May 2
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