By Devika Patel
Knoxville, Tenn., Feb. 5 - CGA Mining Ltd. said it concluded an C$86.02 million private placement of stock. The deal priced for C$74.8 million with a 15% greenshoe on Jan. 19.
The company sold 39.1 million common shares at C$2.20 apiece. Of the shares, 5.1 million were part of the fully exercised greenshoe.
The bought-deal placement was conducted by a syndicate of underwriters led by BMO Capital Markets and including Haywood Securities Inc.
Proceeds will be used to repay debt, including the company's 12% senior promissory notes, to increase exploration activity at the Masbate Gold Project and for general corporate purposes.
Based in Perth, Australia, CGA Mining, formerly Central Asia Gold Ltd., is engaged in mineral exploration and development.
| Issuer: | CGA Mining Ltd.
|
| Issue: | Common stock
|
| Amount: | C$86.02 million, including fully exercised C$11.22 million greenshoe
|
| Shares: | 39.1 million
|
| Price: | C$2.20
|
| Underwriters: | BMO Capital Markets (lead) and Haywood Securities Inc.
|
| Pricing date: | Jan. 19
|
| Settlement date: | Feb. 5
|
| Stock symbol: | Toronto: CGA
|
| Stock price: | C$2.44 at close Jan. 19
|
| Market capitalization: | C$564 million
|
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