Colossus Minerals Inc (C-CSI) - News Release


Colossus Minerals closes $28.75-million financing

2013-06-12 08:54 ET - News Release
Shares issued 106,978,401
CSI Close 2013-06-11 C$ 1.59

Ms. Ann Wilkinson reports


Colossus Minerals Inc. has closed the previously announced offering with GMP Securities L.P. and Dundee Securities Ltd., as co-lead underwriters, on their own behalf and on behalf of a syndicate of underwriters which included Canaccord Genuity Corp., Clarus Securities Inc. and TD Securities Inc., with PowerOne Capital Markets Ltd. acting as a selling group member, pursuant to which a total of 17,968,750 common shares of the company, including those issued pursuant to the exercise, in full, of an overallotment option granted to the underwriters, were issued and sold at a price of $1.60 per offered share for gross proceeds of $28.75-million. The underwriters were paid a cash commission by the company equal to 5.0 per cent of the gross proceeds of the offering.

The net proceeds are intended to be used to finance development expenditures on the Serra Pelada gold-platinum group metals mine and general working capital.

We seek Safe Harbor.