Press release from Marketwire
Perseus Mining Limited Enters Into a Bought Deal Agreement for Gross Proceeds of C$81.25 Million
Wednesday, October 12, 2011
Perseus Mining Limited Enters Into a Bought Deal Agreement for Gross Proceeds of C$81.25 Million08:20 EDT Wednesday, October 12, 2011PERTH, AUSTRALIA--(Marketwire - Oct. 12, 2011) -THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.Perseus Mining Limited (TSX:PRU)(ASX:PRU) ("Perseus" or the "Company") has today entered into an agreement with a syndicate of underwriters co-led by Clarus Securities Inc., Dundee Securities Ltd. and CIBC World Markets Inc. (the "Underwriters") under which the Underwriters have agreed to buy 25,000,000 ordinary shares (the "Ordinary Shares") from Perseus on a bought-deal basis and sell them to the public at a price of C$3.25 per Ordinary Share. The Company has also granted to the Underwriters an over-allotment option to purchase an additional 3,750,000 Ordinary Shares at the same price, exercisable by the Underwriters.The gross proceeds raised from the offering will be C$81,250,000 (C$93,437,500 if the over-allotment option is exercised). The offering is subject to regulatory approval, including that of the Toronto Stock Exchange. The Ordinary Shares will be offered in Canada by way of short form prospectus, and in such other jurisdictions, including the United States and in those jurisdictions outside of Canada which are agreed to by the Company and the Underwriters, where the Ordinary Shares can be issued on a private placement basis, exempt from any prospectus, registration or other similar requirements. The offering is expected to close on or about November 2, 2011.Perseus intends to use the net proceeds of the offering to fund development of the Company's projects and for general working capital purposes.The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the issuer and its management, as well as financial statements.Caution Regarding Forward-Looking InformationThis press release contains forward-looking information which is based on assumptions and judgments of management regarding future events and results. Such forward-looking information includes but is not limited to information with respect to closing of the offering and the use of proceeds of the offering. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the receipt of all required approvals, the receipt of additional financing as and when required, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Assumptions have been made regarding, among other things, the timely receipt of required approvals, the price of gold, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers should not place undue reliance on forward-looking information. Perseus does not undertake to update any forward-looking information, except in accordance with applicable securities laws.ABN 27 106 808 986FOR FURTHER INFORMATION PLEASE CONTACT: Mark CalderwoodPerseus Mining LimitedManaging Director(618) 9240 6344(618) 9240 2406 (FAX)email@example.comThe Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.