/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
PERTH, Western Australia, June 4 /CNW/ - Perseus Mining Limited ("Perseus" or the "Company") (ASX: PRU, TSX:PRU) is pleased to announce that it has completed its previously announced offering of 15,000,000 ordinary shares at a price of A$1.94 per ordinary share for aggregate gross proceeds to the Company of A$29.1 million, in a private placement managed by BGF Equities Pty Ltd.
As previously announced the Company had also launched a share purchase plan (the "SPP") offering a maximum of 7,000,000 shares at A$1.94 each. A total of 1,921,663 shares have been issued under the SPP for aggregate proceeds of A$3.73 million. The Company is pleased to advise that BGF Equities has received firm commitments from its clients to subscribe to the "SPP Shortfall" of 5,078,337 shares. Settlement and issue of these additional shares is expected towards the end of next week.
The proceeds of the private placement referred to above, the SPP and the Bought Deal offering completed on 4 May 2010 in Canada (collectively gross proceeds of A$140.8 million), will be used by the Company to fund the on-going exploration and development of the Company's West African gold properties, particularly the Central Ashanti Gold Project, and for general working capital purposes.
This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the ordinary shares in any state in which such offer, solicitation or sale would be unlawful. The ordinary shares have not been registered and will not be registered under the 1933 Act, or any state securities laws. Accordingly, the ordinary 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 the registration requirements is available.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This press release contains forward-looking information which is based on assumptions and judgments of management regarding future events and results. Such forward-looking information includes but is not limited to information with respect to the use of proceeds from share issues.
Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the terms and availability of project finance facilities for development of the Central Ashanti Gold Project as finally negotiated, the actual market price of gold, the receipt of all required approvals and permits for development of the Central Ashanti Gold Project, changes in the fiscal regime in Ghana, actual results of exploration, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in the Company's publicly filed documents. The Company believes that the assumptions and expectations reflected in the forward-looking information are reasonable.
Forward-looking information is based upon reasonable assumption and in providing the forward-looking information in this news release, assumptions have been made regarding, among other things, the availability of project finance facilities, timely receipt of all remaining required approvals for the development of the Central Ashanti Gold Project, the price of gold, results of future exploration and the ability of the Company to operate in a safe, efficient and effective manner.
Readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Perseus Mining Limited
For further information: For further information: Perseus Mining Limited, (ACN 106 808 986), 30 Ledgar Road, Balcatta, Western Australia, 6021, PO Box 717, Balcatta, WA, 6914, Telephone: (618) 9240 6344, Facsimile: (618) 9240 2406, Email: firstname.lastname@example.org, Website: www.perseusmining.com