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| Home : MAG Silver Announces US$65 Million Bought Deal Financing |
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Feb 23
2016 |
MAG Silver Announces US$65 Million Bought Deal Financing |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 22, 2016) - MAG Silver Corp. (TSX:MAG)(NYSE MKT:MVG) ("MAG" or the "Company") announced today that it has entered into an agreement with a syndicate of underwriters led by Scotia Capital Inc., BMO Capital Markets and Raymond James Ltd. (the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 8,905,000 common shares of the Company (the "Common Shares") at a price of US$7.30 per Common Share, for total gross proceeds of US$65,006,500 (the "Offering"). The Company will also grant to the Underwriters an over-allotment option (the "Over-Allotment Option") to purchase up to 1,335,750 additional Common Shares (the "Over-Allotment Shares"). The Over-Allotment Option will be exercisable for a period of 30 days following closing. |
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| Source:http://www.marketwired.com/mw/release.do?id=2098991&sourceType=3 |
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