Sabina Announces Increase of Previously Announced Bought Deal to $16 Million

Sabina Gold & Silver Corp (TSX:SBB) reports that the company has amended the terms of its previously announced $15 million equity bought deal.

The press release is quoted by saying:

The gross proceeds of the Flow-Through Common Shares will be used to aggressively advance the Company’s projects in Nunavut, particularly at Back River, with a preliminary 2011exploration budget of approximately $40 – $45 million. The exploration program and budget is subject to final review and board approval. A cash commission equal to 5.0% of the gross proceeds raised in the offering will be paid to the underwriters.

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