Bought Deal Equity Financing
03 Avril 2009 - 2:31PM
UK Regulatory
TIDMMOE
RNS Number : 1166Q
Moto Goldmines Limited
03 April 2009
Not for distribution to United States newswire services or for dissemination in
the United States
NEWS RELEASE
FOR IMMEDIATE RELEASE TSX
Code - MGL
APRIL 3, 2009
AIM Code - MOE
Moto Goldmines Announces Bought Deal Financing
PERTH, WESTERN AUSTRALIA - Moto Goldmines Limited ("Moto") is pleased to
announce that it has entered into an agreement with a syndicate of underwriters
co-led by GMP Securities L.P. and BMO Capital Markets and including Haywood
Securities Inc. and RBC Capital Markets (the "Underwriters") which has agreed to
purchase, on a bought deal basis, 17,860,000 common shares of Moto at a price of
C$2.80 per share, for aggregate gross proceeds of C$50 million. The Underwriters
will also have the option, exercisable in whole or in part at any time up to 30
days after the closing of the offering, to purchase up to an additional
2,679,000 common shares to cover over-allotments, if any, and for market
stabilization purposes. If the option is exercised in its entirety, the
aggregate gross proceeds of the offering will be approximately C$57.5 million.
The Company plans to use the net proceeds from the offering to advance the
Moto Gold Project as well as for general corporate purposes including working
capital.
The common shares will be offered by way of a short form prospectus to be
filed in all of the provinces of Canada, except Québec, and in the United States
on a private placement basis pursuant to exemptions from the registration
requirements of the United States Securities Act of 1933, as amended (the
"Securities Act") and to buyers in the United Kingdom on an exempt basis. The
common shares offered will not be and have not been registered under the
Securities Act and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and applicable state securities laws.
The offering is scheduled to close on or about April 27, 2009 and is subject
to certain conditions including, but not limited to, the receipt of all
necessary approvals including the approval of the Toronto Stock Exchange and the
securities regulatory authorities.
For further information in respect of Moto Goldmines Limited, please contact:
Andrew Dinning Mark Arnesen
President and Chief Operating Officer Finance Director and Chief Financial
Officer
Tel: +(61 8) 9273 4222 Tel: +(61 8) 9273 4222
email: adinning@motogoldmines.com email: marnesen@motogoldmines.com
Moto Goldmines Limited website: www.motogoldmines.com
Nominated advisor for AIM listing requirements: RFC Corporate Finance Ltd
Stephen Allen
Tel: +61 (8) 9480 2508
email: stephen.allen@rfc.com.au
AIM Broker GMP Securities Europe LLP
James Hannon
Tel: +44 207 647 2803
email: james.hannon@gmpeurope.com
CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
Certain statements contained in this announcement that are not historical facts
constitute "forward-looking statements", including but not limited to those
statements with respect to the Company's plans to develop the Moto Gold Project
and the Company's financial resources. There can be no assurance that additional
financing for the Moto Gold Project will be made available on terms that are
acceptable to the Company, or at all, that the Moto Gold Project will be
successfully developed, that any mineralisation previously disclosed in respect
of the Moto Gold Project will be proven to be economic, that anticipated
metallurgical recoveries will be achieved, that future evaluation work will
confirm the viability of deposits identified in the Moto Gold Project or that
future required regulatory approvals will be obtained.
This list is not exhaustive of the factors that may affect our forward-looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on such forward-looking statements. Except as
may be required by law, Moto disclaims any intention or obligation to update or
revise forward-looking information, whether as a result of new information,
future events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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