Amazon Mining Holding PLC announces closing of $16,000,000 initial public offering and listing on the TSX Venture Exchange


    TORONTO, Nov. 21 /CNW/ - Amazon Mining Holding Plc ("Amazon") (AMZ:TSX-V)
is pleased to announce today that it has completed an initial public offering
(the "Offering") of 13,333,333 units (each a "Unit") at the price (the
"Offering Price") of $1.20 per Unit, for gross proceeds of approximately
$16,000,000. Each Unit consists of one ordinary share of Amazon (each an
"Ordinary Share") and one-half of one Ordinary Share purchase warrant (each a
"Warrant"), with each whole Warrant entitling the holder thereof to acquire an
additional Ordinary Share at the price of $1.55 per share expiring November
21, 2009, subject to acceleration in the event the closing price of the
Ordinary Shares on the TSX Venture Exchange (the "TSX-V") at any time prior to
November 21, 2008 exceeds $2.10 for 20 consecutive trading days. The Ordinary
Shares will commence trading on the TSX-V today under the symbol "AMZ".
    A syndicate led by Cormark Securities Inc., and including Dundee
Securities Corporation and GMP Securities L.P., acted as agents (the "Agents")
under the Offering and were paid a cash commission of 6% of the gross proceeds
raised thereunder. The Agents were also issued compensation options to acquire
up to a total of 800,000 Units at the Offering Price expiring November 21,
    The Corporation has granted to the Agents an over-allotment option (the
"Over-Allotment Option"), exercisable until December 21, 2007, to purchase up
to 1,966,667 additional Units at the Offering Price for market stabilization
purposes. The Agents may elect to exercise the Over-Allotment Option to
purchase additional Units only or additional Warrants only, or any combination
of additional Units and additional Warrants, so long as the aggregate number
of additional Ordinary Shares and additional Warrants issued upon the exercise
of the Over-Allotment Option does not exceed 1,966,667 and 983,334,

    Amazon is a U.K.-based mineral exploration company engaged in acquiring
and developing gold exploration properties in Brazil. Its strategic focus is
to acquire projects with demonstrated potential for hosting gold deposits, and
to define resources through exploration and drilling campaigns. Amazon's
activities are currently focused on the Tocantins Gold Project, located in the
state of Tocantins, in central Brazil, and on the Madeira Gold Project,
located in the states of Rondonia and Amazonas, in northwestern Brazil.
    The directors of Amazon are Messrs. Cristiano Veloso, Getulio Lamartine
de Paula Fonseca, Kevin van Niekerk, Simon Lawrence and Richard Topham. Mr.
Veloso is also the President and Chief Executive Officer of Amazon, and Manoel
Carlos Cerqueira is its Chief Financial Officer. Dr. Joao Batista Guimares
Teixeira is Amazon's Chief Geoscientist.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Mr. Cristiano Veloso, President and Chief
Executive Officer, Amazon Mining Holding Plc, 91 Farringdon Road, London, EC1M
3LN, United Kingdom, Tel: +44(0)20 7404 7338, Fax: +44(0)2074057773, E-mail:

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