Shares outstanding: 290 Million
Symbol & Exchange: BN-TSXV
/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER
TO SELL OR THE SOLICITATION OF AN OFFER TO BUY THE SECURITIES DESCRIBED
MONTREAL, Nov. 9 /CNW Telbec/ - Blue Note Mining Inc. (the "Company")
(TSXV symbol: "BN") announced today that it has closed its previously
announced public offering of 71,500,000 units ("Units") of the Company at a
price of $0.56 per Unit for gross proceeds of C$40,040,000. (the "Offering")
Each Unit consists of one common share in the capital of the Company and
one-half of one common shares purchase warrant. Each full warrant entitles the
holder to purchase one common share of the Company for a period of 24 months
following the closing of the Offering at a price of $0.67 per common share.
The Offering was undertaken by a syndicate of agents comprised of
Desjardins Securities Inc. and Salman Partners Inc., with Desjardins acting as
lead agent. The Company has granted the agents an over-allotment option to
purchase up to an additional 10,725,000 common shares and 5,362,500 warrants,
exercisable at any time up to 30 days from the closing of the Offering.
The net proceeds of the Offering will be used for operating working
capital, repayment of long term debt, administrative working capital, and the
Company's corporate growth plan.
The Units, the common shares, the warrants and the common shares issuable
upon exercise of the warrants have not been and will not be registered under
the United States Securities Act of 1933, as amended (the "1933 Act"), and may
not be offered or sold in the United States or to U.S. Persons (as defined in
Regulation S under the 1933 Act) except in accordance with an exemption from
the registration requirements of the 1933 Act and applicable state securities
laws. This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the securities
in any jurisdiction in which such offer, solicitation or sale would be
Blue Note Mining Inc. is a Canadian mining company headquartered in
Montréal with operations in Bathurst, New Brunswick. The Company's shares
trade on the TSX Venture Exchange under the symbol "BN".
This news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws that involve
risks and uncertainties. Although the company believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by government
authorities, uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products and
competitive pressures. These factors and others are more fully discussed in
Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: Lorne Woods, Vice President Investor Relations,
Blue Note Mining Inc., (800) 937-3095, email@example.com,