Moto Goldmines Limited completes common share offering



    
    /NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH ANY US NEWSWIRE
    SERVICE/

    TSX Code - MGL
    AIM Code - MOE
    

    PERTH, Western Australia, April 27 /CNW/ - Moto Goldmines Limited ("Moto"
or the "Company") is pleased to announce that it has completed its previously
announced bought deal and has issued 17,860,000 common shares at C$2.80 per
share, for gross proceeds of C$50,008,000. The offering was conducted by a
syndicate of underwriters, co-led by GMP Securities L.P. and BMO Capital
Markets and including RBC Capital Markets and Haywood Securities Inc.
(collectively, the "Underwriters").
    The common shares were offered in Canada by way of a short-form
prospectus.
    The Company plans to use the net proceeds of the offering for exploration
and development of the Moto Gold Project and for working capital and general
corporate purposes.
    In connection with the offering, the Underwriters have been granted an
option to purchase up to an additional 2,679,000 common shares for a period of
30 days from the closing of the offering. This option has not yet been
exercised and, if it is exercised in full, gross proceeds of the offering will
be C$57,509,200.

    This news release does not constitute an offer to sell or the
solicitation of an offer to buy any common shares within the United States.
The common shares have not been offered and will not be registered under the
United States Securities Act of 1933, as amended (the "1933 Act"), or any
state securities laws. Accordingly, the common shares may not be offered or
sold in the United States or to U.S. persons (as such terms are defined in
Regulation S under the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws or an exemption from such registration is
granted.





For further information:

For further information: in respect of the Company's activities, please
contact: Andrew Dinning, President and Chief Operating Officer,Tel: +61 8 9273
4222, email: adinning@motogoldmines.com; Mark Arnesen, Financial Director and
Chief Financial Officer, Tel: +61 8 9273 4222, email:
marnesen@motogoldmines.com; Moto Goldmines Limited website:
www.motogoldmines.com; Nominated advisor for the purposes of AIM: RFC
Corporate Finance Ltd, Jamie Wright, Tel: +61 8 9480 2508, email:
Jamie.Wright@rfc.com.au

Organization Profile

MOTO GOLDMINES LIMITED

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