08:43:17 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Pretium Resources Inc
Symbol PVG
Shares Issued 86,860,086
Close 2012-01-18 C$ 15.63
Market Cap C$ 1,357,623,144
Recent Sedar Documents

Pretium arranges $18.5-million private placement

2012-01-19 08:09 ET - News Release

Mr. Robert Quartermain reports

PRETIVM ANNOUNCES BOUGHT PRIVATE PLACEMENT OF FLOW-THROUGH SHARES

Pretium Resources Inc. has entered into a bought deal agreement with a syndicate of underwriters led by Salman Partners Inc., to issue by way of private placement one million flow-through common shares of Pretivm at a price of $18.50 per flow-through share for total gross proceeds of $18.5-million. The offering is scheduled to close on or about Feb. 14, 2012, subject to regulatory approvals.

The gross proceeds of the offering will be used to accelerate exploration of the Valley of the Kings zone with infill and expansion drilling in support of a feasibility study on the high-grade opportunity at the Brucejack project anticipated to be completed by year-end. The gross proceeds of the offering will be used during the 2012 exploration program to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures, as defined in subsection 127(9) of the Income Tax Act (Canada), and B.C. flow-through mining expenditures, as defined in the Income Tax Act (British Columbia), which will be renounced to the subscribers with an effective date no later than Dec. 31, 2012. In the event the company is unable to renounce qualifying expenditures effective on or prior to Dec. 31, 2012, to the initial purchasers of flow-through shares in a total amount not less than the gross proceeds raised from the issue of the flow-through shares or such expenditures are reduced by the Canada Revenue Agency, the company will indemnify each flow-through share subscriber for the additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.

The underwriters have been granted an option to purchase, or arrange for substituted purchasers for, up to an additional 250,000 flow-through shares at the issue price at any point up until 48 hours prior to closing of the offering.

The flow-through shares will be offered to accredited investors in all provinces of Canada pursuant to applicable securities laws. Subscribers under the offering will not be permitted to trade the flow-through shares for a period of four months plus one day from the closing of the offering.

We seek Safe Harbor.

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