Pretium Resources Ups Private Placement to C$99 Million to Protect Shareholders From Dilution

Pretium Resources (TSX:PVG,NYSE:PVG) has entered subscription agreements with certain shareholders wishing to retain their pro rata interests in connection with the previously announced investment by Sijin Mining. The subscription agreements, together with Zijin’s investment, will bring total proceeds to roughly C$99 million.

In connection with the Offering, Liberty Metals & Mining Holdings, LLC (“LMM”), a subsidiary of Boston-based Liberty Mutual Insurance, intends to subscribe for 989,343 of the Purchased Shares in order to maintain its pro rata interest in the Company in accordance with its participation rights under the subscription agreement dated April 22, 2013 between the Company and LMM.

Pretivm intends to use the proceeds from the Offering to fund capital expenditures at its Brucejack Project including the procurement of long-lead items and camp infrastructure.

Click here to read the Pretium Resources (TSX:PVG,NYSE:PVG) press release