Rubicon Minerals Closes $86M Bought Deal Financing

Acted for Rubicon Minerals Corporation in its bought deal equity financing of common shares and subsequent "overnight" secondary offering of common shares.

Matter Value: CAD 86,336,250

November 12, 2009

Rubicon Minerals Corporation, 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 (includes the exercise in full of an over-allotment option of 2,475,000 common shares) at a price of $4.55 per share for aggregate gross proceeds to Rubicon of $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 that included Alan Monk, Ruby Chan and Michael Coburn (tax), all of Davis's Vancouver office.

This deal was featured in the March 2010 issue of Lexpert, under its Biggest Deal section.