/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
TORONTO, June 8, 2009 /CNW/ - Inmet Mining Corporation (the
"Corporation") (TSX:IMN) announced today that it has entered into an agreement
with Credit Suisse Securities (Canada), Inc. and CIBC World Markets Inc., to
include a syndicate of underwriters to be determined (collectively, the
"Underwriters"), pursuant to which the Underwriters have agreed to purchase
6,750,000 common shares ("Shares") of the Corporation on a bought deal basis,
at a price of Cdn.$44.50 per Share for aggregate gross proceeds of Cdn.$300
million. The Underwriters have been granted an over-allotment option,
exercisable until 30 days after the closing of the offering, enabling them to
purchase up to an additional 15% of the number of Shares sold pursuant to the
offering at a price of Cdn.$44.50 per Share.
The offering is scheduled to close on or about June 25, 2009 and is
subject to certain conditions including, but not limited to, the receipt of
all necessary approvals including the approval of the Toronto Stock Exchange.
The net proceeds of the offering will be used primarily for the repayment
of all indebtedness owed by Cobre Las Cruces S.A. under its project financing
facility for the Las Cruces mine and general corporate purposes.
These materials are not an offer for sale of securities in the United
States. The securities have not been registered under the U.S. Securities Act
of 1933, as amended (the "Securities Act"), and may not be sold in the United
States absent registration or an exemption from registration under the
Securities Act. The Corporation does not intend to register any part of the
offering in the United States or to conduct a public offering of securities in
the United States.
Forward looking information
Securities regulators encourage companies to disclose forward-looking
information to help investors understand a company's future prospects. This
press release contains forward-looking information. These are
"forward-looking" because we have used what we know and expect today to make a
statement about the future. Forward-looking statements usually include words
such as may, expect, anticipate, and believe or other similar words. Capital
and operating cost estimates are forward-looking statements, and are based on
assumptions that we believe to be reasonable. However, actual events and
results could be substantially different because of the risks and
uncertainties associated with our respective business or events that happen
after the date of this press release. You should not place undue reliance on
Inmet is a Canadian-based global mining company that produces copper,
zinc and gold. We have interests in five mining operations in locations around
the world: Cayeli, Las Cruces, Pyhasalmi, Troilus and Ok Tedi. We also have a
100 percent interest in the Petaquilla development property in Panama.
This press release is also available at www.inmetmining.com.
For further information:
For further information: Jochen Tilk, President and Chief Operating
Officer, (416) 860-3972