News Column

Pretivm Closes Over-Allotment Option and Non-Brokered Private Placement

September 6, 2014



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 the closing of the previously announced over-allotment option offering (the "Over-Allotment Option") of 1,242,000 common shares (the "Additional Shares") at a price of US$7.25 per share (the "Offering Price") pursuant to its marketed offering that closed on July 29, 2014 (the "Offering").

Upon closing of the Over-Allotment Option, Pretivm received gross proceeds of approximately US$7,400,000 for the sale of 1,024,650 Additional Shares. The remaining 217,350 Additional Shares were sold by Silver Standard Resources Inc. ("Silver Standard") at the Offering Price in a secondary offering for gross proceeds to Silver Standard of approximately US$1,580,000.

Pretivm is also pleased to announce the concurrent closing of its previously announced non-brokered private placement with Liberty Metals & Mining Holdings, LLC ("LMM"), a subsidiary of Boston-based Liberty Mutual Insurance, of 496,054 common shares of Pretivm (the "Purchased Shares") at a price per share of US$7.25 for gross proceeds to Pretivm of approximately US$3,596,000 (the "Private Placement").

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. In addition, Pretivm intends to use the net proceeds of the Private Placement to fund environmental and engineering 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 were 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.

LMM is not permitted to trade the Purchased Shares for a period of four months plus one day from the closing of the Private Placement. The Purchased Shares described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such act.

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: Engineering, Investment and Finance.

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Source: Investment Weekly News


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