Davis client Rubicon Minerals Announces Closing of CDN $86 Million Bought Deal Financing
On November 12, 2009, Rubicon Minerals Corporation ("Rubicon" or the "Company"), a Vancouver-based exploration and development company focused on exploring for gold in politically safe jurisdictions with high geological potential, closed its previously announced bought deal equity financing of 18,975,000 common shares (which includes the exercise in full of an over-allotment option of 2,475,000 common shares) at a price of Cdn$4.55 per share for aggregate gross proceeds to Rubicon of Cdn$86,336,250.
GMP Securities L.P. and TD Securities Inc. were co-lead underwriters in a syndicate that included Research Capital Corporation, Macquarie Capital Markets Canada Ltd., BMO Capital Markets, Dundee Securities Corporation, Sandfire Securities Inc. and Thomas Weisel Partners Canada Inc.
The Company plans to use the net proceeds from the offering to advance the development of its Phoenix Gold Project and for general working capital and other corporate purposes.
The common shares were offered by way of a short form prospectus filed in all of the provinces of Canada, other than Québec, pursuant to National Instrument 44-101 - Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.
Rubicon was represented by Davis LLP with a team led by David Reid and which included Alan Monk and Ruby Chan.
The official press release from Rubicon is attached below.