By Laura Lutz
Des Moines, May 31 - Consolidated Thompson Iron Mines Ltd. arranged a C$125.02 million private placement of shares.
The company plans to sell 26.32 million shares at C$4.75 each.
A syndicate led by Orion Securities and including GMP Securities LP, Canaccord Capital Corp. and CIBC World Markets Inc. will underwrite the deal.
The underwriters have a greenshoe for up to 5.27 million additional shares, exercisable for 48 hours before closing of the placement.
Proceeds will be used for development on the company's Bloom Lake property, for future acquisitions and for working capital.
Settlement is expected by June 21.
Consolidated Thompson is a Toronto-based mining company.
| Issuer: | Consolidated Thompson Iron Mines Ltd.
|
| Issue: | Shares
|
| Amount: | C$125.02 million
|
| Shares: | 26.32 million
|
| Greenshoe: | 5.27 million shares
|
| Price: | C$4.75
|
| Warrants: | No
|
| Underwriters: | Orion Securities (lead), GMP Securities LP, Canaccord Capital Corp., CIBC World Markets Inc.
|
| Pricing date: | May 31
|
| Stock symbol: | TSX Venture: CLM
|
| Stock price: | C$4.96 at close May 30
|
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