Yamana raising US$20.7mn
Bnamericas Published: Monday, December 22, 2003
Toronto-based Yamana Gold (TSX: YRI) reported Friday that an underwriting syndicate, led by Canaccord Capital and BMO Nesbitt Burns, has exercised its option to purchase an additional 2,415,000 company shares at a price of Cdn$3.20 each for additional gross proceeds of Cdn$7.73mn (US$5.78mn). This brings the total offering announced on December 8 to 8,665,000 shares for total gross proceeds of Cdn$27.7mn (US$20.7mn), it said in a statement. The offering is scheduled to close on December 23, 2003. Yamana said it plans to use the net proceeds to advance its mineral properties, potential acquisitions and for general corporate purposes. Yamana has the newly acquired Fazenda Brasileiro gold mine in northeast Brazil's Bahia state, and precious-metal exploration interests in Argentina and Paraguay.
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