PolyMet Mining Files Final Prospectus, Announces Rights Offering Terms

PolyMet Mining (TSX:POM,NYSEMKT:PLM) announced the filing of the final prospectus for an offering of rights to holders of common shares of the Company to raise up to approximately US$60.5 million in gross proceeds. The final prospectus has been filed with the securities regulatory authorities in the provinces of British Columbia, Alberta, and Ontario in Canada and an amendment to its registration statement on Form F-10, of which the final prospectus forms a part, with the U.S. Securities and Exchange Commission.

As quoted in the press release:

Every shareholder will receive one Right for each common share owned on June 4, 2013, the Record Date. Two Rights will entitle the holder to acquire one new common share of PolyMet at US$0.66 per share. The Rights will be listed for trading on the Toronto Stock Exchange (“TSX”), which will also list the common shares issuable upon the exercise of the Rights. PolyMet will apply to list the Rights and Common Shares issuable upon the exercise of the Rights on the NYSE MKT.

Rights Offering Details

What is a Rights Offering?
In a Rights Offering, all eligible shareholders get the same pro rata right to participate in the financing on the same terms

How many common shares will I be able to subscribe for?
For each common share you hold on the Record Date you will receive one Right. For every two Rights, you will be able to subscribe for one new common share (subject to applicable law).

Record date/time
5:00 p.m. (Eastern time) on June 4, 2013 (the “Record Date”).

Commencement Date
June 6, 2013

What will it cost to subscribe for a share?
Upon the exercise of 2 Rights, each common share will cost US$0.66.

Rights Expiry Date
The Rights Offering will be open until 5:00 p.m. (Eastern time) on July 3, 2013. Holders of Rights will need to exercise their Rights prior to that time and date (“Expiry Date”).

How much will the Rights Offerings raise?
Gross proceeds of approximately US$60.5 million.

Click here to read the PolyMet Mining (TSX:POM,NYSEMKT:PLM) press release

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