TransactionsCassels Brock Represents Colossus Minerals Inc. in Its $86,250,000 Bought Deal Financing and Over-Allotment Option ExercisePublished: 11/09/2011 By Joan Beck, Mark T. Bennett, Philip Long, Christopher B. Norton On November 8, 2011, Colossus Minerals Inc. (“Colossus”) announced that it completed its bought deal financing, of 86,250 units (“Units”) including the full amount of the over-allotment option, for aggregate gross proceeds to Colossus of CDN$86,250,000. Each Unit consisted of a $1,000 principal amount unsecured gold-linked note (collectively “Notes”) and sixty common share purchase warrants (“Warrants”). The Notes will mature on December 31, 2016 and will bear interest, accruing and calculated and payable semi-annually in arrears on June 30 and December 31 of each year, at a rate of between 6% and 13%, dependent on the simple average of the Bloomberg Composite New York Gold Price closing price. Each Warrant entitles the holder thereof to acquire one common share of Colossus at a price of $8.50 until expiry at 5:00 p.m. on November 8, 2016. The syndicate of underwriters was led by Dundee Securities Ltd. and including Clarus Securities Inc., Canaccord Genuity Corp., and GMP Securities L.P., with PowerOne Capital Markets Limited acting as a selling group member. Cassels Brock acted for Colossus with a team that included Mark Bennett (Securities & Mining), Joan Beck (Securities & Mining), Philip Long (Securities) and Christopher B. Norton (Corporate Tax). |