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Kinross announces exercise of over-allotment option

downloadCanadian-based miner Kinross Gold Corporation, which operates mines in Ghana and five other countries, has announced that the syndicate of underwriters for the Company’s previously completed bought deal public offering of 83,400,000 common shares of Kinross have elected to exercise their option in full to purchase an additional 12,510,000 common shares at a price of US$3.00 per common share.


The sale of the additional common shares is expected to be completed on March 18, 2016 and will increase the gross proceeds by an additional US$37,530,000, resulting in total gross proceeds from the offering of US$287,730,000, Kinross said in a statement.

The offering was made through a syndicate of underwriters co-led by TD Securities Inc. and Scotiabank.

The shares described above were offered by the Company pursuant to the Company’s effective shelf registration statement on Form F-10 filed with the U.S. Securities and Exchange Commission (SEC) and its corresponding Canadian base shelf prospectus filed with the securities regulatory authorities in each of the provinces of Canada.

A final prospectus supplement relating to the offering was filed with the SEC and with the securities regulatory authority in each of the provinces of Canada on February 25, 2016.

The miner said no securities regulatory authority has either approved or disapproved the contents of its news release, which, it adds, shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Apart from Ghana, the senior gold mining company has mines and projects in the United States, Brazil, Chile, Mauritania, and Russia. Kinross maintains listings on the Toronto Stock Exchange (TSX: K) and the New York Stock Exchange (NYSE: KGC).


Source: http://classfmonline.com/1.8804676

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