GAMMON GOLD INC
SymbolGRS

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Gammon Gold Announces Completion of Public Offering

2009-10-22 10:33 ET - News Release

HALIFAX, Oct. 22 /CNW/ - Gammon Gold Inc. ("Gammon") (TSX:GAM and NYSE:GRS) has today completed the public offering of 12,926,000 common shares at a price of U.S.$8.90 per common share for gross proceeds of U.S.$115,041,400 (the "Offering"). The Offering was sold on a bought deal basis to a syndicate of underwriters led by BMO Nesbitt Burns Inc. and UBS Securities Canada Inc. and including Dundee Securities Corporation, Macquarie Capital Markets Canada Ltd., Canaccord Capital Corporation and Research Capital Corporation, and includes 1,1686,000 common shares issued pursuant to the full exercise of the over-allotment option. The net proceeds of the Offering will be used to fund expanded operations exploration programs at the Ocampo and El Cubo mines, the advancement of the Guadalupe y Calvo project, debt repayment, greenfields exploration and general corporate purposes.

The common shares have been offered by way of short form prospectus in all of the provinces and territories in Canada and in the United States pursuant to a registration statement filed under the Canada/U.S. multijurisdictional disclosure system, and have also been offered on a private placement basis in certain jurisdictions outside Canada and the United States pursuant to applicable prospectus exemptions. A registration statement relating to these securities has become effective with the United States Securities and Exchange Commission pursuant to Rule 467(a) under the U.S. Securities Act of 1933. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common shares in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

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