TransactionsAndina Minerals Inc. Closes $28.75 Million Bought Deal FinancingPublished: 12/14/2009 By Mark T. Bennett, Jennifer Traub On December 2, 2009, Andina Minerals Inc. completed a financing on a bought deal basis, with a syndicate of underwriters co-led by BMO Capital Markets and Haywood Securities Inc. and including Canaccord Capital Corporation and RBC Dominion Securities Inc. Under the amended terms of the financing announced on November 23, 2009, Andina issued a total of 12,500,000 units, each unit consisting of one common share and one common share purchase warrant, at a price of $2.00 per Unit for gross proceeds of $25,000,0000. Each common share purchase warrant entitles the holder to purchase one common share of the Company at a price of $2.25 until June 2, 2012. The warrants commenced trading on the TSX Venture Exchange at the market open on December 4, 2009, under the symbol ADM.WT. On December 10, 2009, the underwriting syndicate exercised its over-allotment option in full, purchasing an additional 1,875,000 units at a price of $2.00 per Unit, bringing the total number of Units sold by the Company pursuant to this public offering to 14,375,000 and the total gross proceeds from the public offering to $28,750,000. Cassels Brock acted for the underwriting syndicate with a team that included Mark Bennett (Securities and Mining), Jennifer Traub (Securities and Mining) and Simon Flood (Securities). |