Sabina Announces $22.4 Million “Bought Deal” Financing

- July 12th, 2010

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.

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.

Click here to access the entire press release

Click here to access Sabina Gold & Silver Corporate Site

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