Oban Mining settles C$13.06 million private placement of common stock

C$2.14 million greenshoe exercised; brokered deal funds exploration

By Devika Patel

Knoxville, Tenn., Sept. 30 – Oban Mining Corp. said it completed a C$13.06 million private placement of stock. Dundee Securities Ltd. was the underwriter for the deal, which priced for C$10.93 million with a 15% greenshoe on Sept. 10.

The company sold 8,427,500 flow-through common shares at C$1.55 per share on a bought-deal basis. The price per share reflects a 6.16% premium to the Sept. 9 closing share price of C$1.46. Of the shares, 1,377,500 were part of the greenshoe.

Proceeds will be used for exploration.

The Toronto company explores for base and precious metals.

Issuer:	Oban Mining Corp.
Issue:	Flow-through common shares
Amount:	C$13,062,625, including C$2,135,125 greenshoe of 1,377,500 shares
Shares:	8,427,500
Price:	C$1.55
Warrants:	No
Underwriter:	Dundee Securities Ltd.
Pricing date:	Sept. 10
Settlement date:	Sept. 30
Stock symbol:	Toronto: OBM
Stock price:	C$1.46 at close Sept. 9
Market capitalization:	C$55.52 million

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