Issues 12,903,613 Units at $3.10 per Unit
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES
MONTREAL, June 6, 2012 /CNW Telbec/ - 5N Plus Inc. (TSX: VNP), the leading producer of specialty metal and chemical products, today completed its previously-announced "bought deal" public offering and concurrent private placement of an aggregate of 12,903,613 units at a price of $3.10 per unit, for total gross proceeds to 5N Plus of $40 million. Each of the units is comprised of one common share and one-half of a common share purchase warrant. Each full warrant entitles the holder to purchase one additional common share at a price of $5.00 for 24 months. The warrants are listed on the Toronto Stock Exchange under the trading symbol "VNP.WT" and will commence trading today.
In the "bought deal" public offering, 5N Plus issued and sold 6,452,000 units for gross proceeds of $20 million to a syndicate of underwriters led by National Bank Financial Inc. and including GMP Securities L.P., TD Securities Inc., HSBC Securities (Canada) Inc., CIBC World Markets Inc., Cormark Securities Inc., M Partners Inc., NCP Northland Capital Partners Inc., Stonecap Securities Inc. and Versant Partners Inc. The offering was made by way of short form prospectus dated May 30, 2012 filed with the securities commissions of each of the provinces of Canada.
In the concurrent private placement, 5N Plus issued and sold a further 6,451,613 units to Investissement Québec for gross proceeds of $20 million. The common shares and warrants issued to Investissement Québec are subject to restrictions on resale for four months under applicable securities legislation.
5N Plus will use the net proceeds from the "bought-deal" public offering and concurrent private placement to reduce indebtedness incurred under its revolving credit facility with a syndicate of financial institutions.
Following the closing of the public offering and concurrent private placement, there are 83.9 million common shares of 5N Plus issued and outstanding.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.The common shares and warrants offered have not been and will not be registered under the U.S. Securities Act of 1933 or state securities laws. Accordingly, the common shares and warrants may not be offered or sold to U.S. persons except pursuant to applicable exemptions from registration.
About 5N Plus Inc.
5N Plus is the leading producer of specialty metal and chemical products. Fully integrated with closed-loop recycling facilities, the Company is headquartered in Montreal, Québec, Canada and operates manufacturing facilities and sales offices in several locations in Europe, the Americas and Asia. 5N Plus deploys a range of proprietary and proven technologies to produce products which are used in a number of advanced pharmaceutical, electronic and industrial applications. Typical products include purified metals such as bismuth, gallium, germanium, indium, selenium and tellurium, inorganic chemicals based on such metals and compound semiconductor wafers. Many of these are critical precursors and key enablers in markets such as solar, light-emitting diodes and eco-friendly materials.
Forward-Looking Statements and Disclaimer
This press release may contain forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by words such as "about", "approximately", "may", "believes", "expects", "will", "intends", "should", "plans", "predicts", "potential", "projects", "anticipates", "estimates", "continues" or similar words or the negative thereof or other comparable terminology. Forward-looking statements are based on the best estimates available to 5N Plus at this time and involve known and unknown risks, uncertainties and other factors that may cause 5N Plus' actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A description of the risks affecting 5N Plus' business and activities appears under the heading "Risks and Uncertainties" in Management's Discussion and Analysis for the fiscal year ended December 31, 2011 available on SEDAR at www.sedar.com. No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that 5N Plus will derive therefrom. In particular, no assurance can be given as to the future financial performance of 5N Plus. The forward-looking information contained in this press release is made as of the date hereof and 5N Plus undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws. The reader is warned against placing undue reliance on these forward-looking statements.
For further information:
President and Chief Executive Officer
5N Plus Inc.