By a News Reporter-Staff News Editor at Investment Weekly News -- Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that, further to its previously announced marketed offering (the "Offering") of 8,280,000 common shares at a price of US$7.25 per share (the "Offering Price"), Scotia Capital Inc., as lead underwriter for the Offering, has delivered a notice to the Company of its intention to exercise the entire over-allotment option (the "Over-Allotment Option") to acquire an additional 1,242,000 common shares (the "Additional Shares") of the Company at the offering price of US$7.25 per common share.
Of the 1,242,000 Additional Shares, 1,024,650 will be issued and sold by Pretivm and 217,350 Additional Shares will be sold by Silver Standard Resources Inc. ("Silver Standard"). On closing, the exercise of the Over-Allotment Option is expected to provide additional gross proceeds to the Company of approximately US$7,400,000 and additional gross proceeds to Silver Standard of approximately US$1,580,000. Closing of the Over-Allotment Option is expected to occur on or about August 15, 2014.
The net proceeds of the Over-Allotment Option to the Company will be used to fund environmental and engineering activities at the Brucejack Project, to fund permitting of the Brucejack Project, to fund continued exploration activities at the Brucejack Project and for general corporate purposes. The Company will not receive any of the proceeds from the sale of the Additional Shares by Silver Standard.
The Additional Shares will be sold in each of the provinces and territories of Canada, other than Quebec, by way of a prospectus supplement dated July 22, 2014 to a short form base shelf prospectus dated July 16, 2014 and in the United States pursuant to a registration statement on Form F-10 in accordance with the Multijurisdictional Disclosure System established between Canada and the United States.
A copy of the prospectus supplement and the short form base shelf prospectus may be obtained in Canada from Scotia Capital Inc. attention: Equity Capital Markets (tel: 416-862-5837), Scotia Plaza, 66th Floor, 40 King Street West, M5W 2X6, Toronto, Ontario; or in the United States, attention: Equity Capital Markets (tel: 212-225-6853), 250 Vesey Street, 24th Floor, New York, NY, 10281.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such province, state or jurisdiction.
Keywords for this news article include: Investment and Finance.
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