TORONTO –
Yamana Gold of Toronto has raised $80 million through the sale of approximately 22.67 million shares in
Brio Gold at a price of $3.00 per share. The shares were purchased by a syndicate of underwriters co-led by Canaccord Genuity, CIBC Capital Markets and National Bank Financial.
The underwriters have been granted an overallotment of 2.67 million shares, which if taken up would add another $8.00 million to the Yamana treasury.
After the sale, Yamana will hold about 62.54 million, or 55.6%, of Brio Gold. Should the overallotment be exercised in full, Yamana’s interest will fall to 59.87 million shares representing 53.2% of Brio.
[caption id="attachment_1003718422" align="alignright" width="300"]
Loading at the Canadian Malartic gold project, 50% owned by Yamana and 50% by Agnico Eagle.[/caption]
Brio’s project portfolio contains three operating gold mines and a fully permitted gold project to be restarted next year in Brazil.
Yamana owns several producing gold mines in South America as well as 50% of the Canadian Malartic gold mine in Quebec. It is also preparing the wholly owned Cerro Moro gold-silver project in Argentina for production in 2018.
Please visit
www.Yamana.com to watch the video about the Cerro Moro development.
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