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TSX:RMX | NYSE AMEX:RBY
Feb. 6, 2012 /PRNewswire/ -
Rubicon Minerals Corporation (RMX:TSX
| RBY:NYSE-AMEX) ("
Rubicon" or the "
Company") announces that it has entered into an agreement with a syndicate of underwriters (the "
Underwriters"), which has agreed to purchase, on a bought deal basis, 49,000,000 common shares (the "
Shares") of the Company at a price of
Cdn$4.10 per Share, for aggregate gross proceeds of
Cdn$200,900,000. The Underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 7,350,000 Shares. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be
The Company plans to use the net proceeds from the offering to advance the development of the Phoenix Gold Project and for working capital and general corporate purposes.
The Shares will be offered by way of a short form prospectus to be filed in all of the provinces of
Canada (other than the Province of Québec) pursuant to National Instrument 44-101
Short FormProspectus Distributions and in
the United States on a private placement basis pursuant to an exemption from the registration requirements of
the United StatesSecurities Act of 1933, as amended.
The offering is scheduled to close on or about
February 29, 2012 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange, NYSE Amex and the securities regulatory authorities.
This press release is not an offer or a solicitation of an offer of common shares for sale in the United States. The common shares have not been and will not be registered under the United StatesSecurities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.About Rubicon Minerals Corporation Rubicon Minerals Corporation is an exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in
Red Lake, Ontario. Rubicon controls over 100 square miles of prime exploration ground in the prolific
Red Lake gold district of
Ontario which hosts Goldcorp's high-grade, world class Red Lake Mine. Rubicon's shares are listed on the NYSE Amex (RBY) and the TSX (RMX) Exchanges and have traded on average, 1.7 million shares per day in 2011. Rubicon's shares are included in the S&P/TSX Composite Index and
Van Eck's Junior Gold Miners ETF.
RUBICON MINERALS CORPORATION "David W. Adamson" President & CEO