Funds earmarked for development of the Didipio Gold/Copper Project
By Jennifer Chiou
New York, Oct. 5 - OceanaGold Corp. said it agreed to privately place special warrants and Chess Depositary Interests at C$3.50 each on a bought-deal basis for proceeds of C$115.5 million.
Macquarie Capital Markets Canada Ltd. and Citigroup Global Markets Canada Inc. are the lead agents.
The Chess Depositary Interests will be purchased at the Australian-dollar equivalent A$3.54 offering price.
Each special warrant will entitle holders to receive one OceanaGold share.
Settlement is slated for Oct. 20.
Partial proceeds will go towards the capital expenditure requirements for the development of the Didipio Gold/Copper Project in the Philippines. They will also be used for extending the mine life at the company's New Zealand operations and for general corporate purposes.
Based in Melbourne, Australia, OceanaGold is a gold exploration company.
| Issuer: | OceanaGold Corp.
|
| Issue: | Chess Depositary Interests and special warrants
|
| Amount: | C$115.5 million
|
| Price: | C$3.50
|
| Warrants: | Each warrant exercisable for one share
|
| Agents: | Macquarie Capital Markets Canada Ltd. and Citigroup Global Markets Canada Inc. (leads)
|
| Announcement date: | Oct. 5
|
| Settlement date: | Oct. 20
|
| Stock symbol: | Australia: OGC
|
| Stock price: | A$3.86 at close Oct. 4
|
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