Sabina Announces $22.4 Million “Bought Deal” Financing

Sabina Gold & Silver Corp. (TSX:SBB) announced that it has entered into an agreement with Dundee Securities Corporation and a syndicate of underwriters, under which the Underwriters have agreed to purchase on an underwritten basis 8,300,000 common shares of Sabina at a price of $2.70 per Common Share for total gross proceeds to Sabina of $22,410,000.

The press release is quoted as saying:

Under the agreement, the Underwriters have an over-allotment option to purchase up to an additional 1,245,000 Common Shares, which if exercised in full will result in total gross proceeds of $25,771,500. The proceeds of the offering shall be used primarily to advance Sabina’s exploration projects, for general and administrative expenses and for working capital.

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