/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES./
PERTH, Western Australia, April 20 /CNW/ - Mirabela Nickel Limited
("Mirabela") (TSX: MNB, ASX: MBN) is pleased to announce that it has agreed to
pricing for its previously announced public offering of ordinary shares.
Mirabela's offering will consist of up to 30,000,000 ordinary shares at a
price of C$5.30 per share, for aggregate gross proceeds of up to
In connection with the offering, Mirabela will also grant the agents an
option to purchase up to an additional 15% of the offering (4,500,000 ordinary
shares) for a period of 30 days from the closing of the offering, to cover
over-allotments, if any, and for market stabilization purposes. If the
over-allotment option is exercised in full, gross proceeds of the offering
would be approximately C$182,850,000.
The completion of the offering is subject to, among other things, the
approval of the Toronto Stock Exchange, Australian Securities Exchange and the
applicable Canadian securities commissions. Completion is expected on or about
May 2, 2007.
Cormark Securities Inc. (formerly Sprott Securities Inc.) is acting as
lead agent in connection with the offering together with a syndicate that
includes Dundee Securities Corporation, GMP Securities L.P., RBC Dominion
Securities Inc. and BMO Nesbitt Burns Inc.
Mirabela is a mineral exploration company incorporated under the laws of
Australia and listed on the Toronto Stock Exchange and the Australian
Securities Exchange. Mirabela has a portfolio of prospective nickel and other
base metal projects in Brazil. Mirabela expects that the net proceeds from
this offering will be used to finance a portion of the capital costs of the
Santa Rita disseminated nickel sulphide deposit in Bahia State, Brazil.
Additional information relating to Mirabela is available on the company's
website at: www.mirabela.com.au.
The securities referred to herein have not been registered under the US
Securities Act of 1933 and may not be offered or sold in the United States or
to a US person absent registration or an applicable exemption from
For further information:
For further information: Nick Poll, CEO and Managing Director,
Telephone: +61 8 9324 1177, Facsimile: +61 8 9324 2171, Email: