Rubicon Minerals announces $200 million bought deal financing

Advised Rubicon Minerals as it entered a purchase agreement with a syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc.

Matter Value: CAD 200,000,000

On February 6, 2012, Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) announced that it had entered into an agreement with a syndicate of underwriters, co-led by GMP Securities L.P. and TD Securities Inc., which has agreed to purchase, on a bought-deal basis, 49 million common shares of Rubicon at a price of $4.10 per Share, for aggregate gross proceeds of $200.9 million.

The underwriters will also have the option to purchase up to an additional 7.35 million shares, boosting the total proceeds to up to C$231.035 million. This option is exercisable in whole or in part at any time up to 30 days after the offering's close.

The financing will be used to develop Rubicon's Phoenix gold project near Red Lake, Ontario, and for working capital purposes. The financing is scheduled to close on or near February 29, 2012, subject to the receipt of all necessary approvals, including that of the Toronto Stock Exchange, the NYSE Amex Exchange and the securities regulatory authorities.

Davis LLP represented Rubicon Minerals with a team led by David Reid with assistance from Ruby Chan, Elaine Tham, Tony Anderson, John Lemieux, Rhys Davies, Mike Coburn, and paralegals Claudia Tsao and Joy Syho.
 

Related Lawyers

Ruby Chan
604.643.6462

Rhys Davies, Q.C.
604.643.2966

David Reid
604.643.6428

Elaine Tham
604.643.6409

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  • Canada