Brigus Gold Corp. ('Brigus Gold? or the 'Company?) (TSX: BRD) (NYSE
Amex: BRD) is pleased to announce that it has closed its previously
announced private placement offering of 10,000,000 common shares of the
Company designated as flow-through shares for purposes of the Income Tax
Act (Canada) (the 'Flow-Through Shares') at a price of C$1.40 per
Flow-Through Share for total gross proceeds to the Company of C$14
million (the 'Offering?). This Offering included the exercise of the
additional C$2 million option and was completed on a guaranteed agency
private placement basis by Haywood Securities Inc. as lead underwriter,
with a syndicate which included Cormark Securities Inc., and Brant
Securities Limited.
The proceeds from the sale of the Flow-Through Shares will be used to
incur eligible Canadian Exploration Expenses, as defined under the
Income Tax Act (Canada). The funds will be used for exploration and
development activities at the Company′s Black Fox gold mine and
adjoining Grey Fox - Pike River Project in Ontario.
The Flow-Through Shares were offered to residents of Canada pursuant to
Regulation S of the U.S. Securities Act of 1933, as amended (the
'Securities Act?). The Flow-Through Shares have not been registered
under the Securities Act, and may not be offered or sold in the United
States without registration or pursuant to an applicable exemption from
the registration requirements of the Securities Act. The Flow-Through
Shares are subject to a four-month hold period.
About Brigus Gold
Brigus Gold is a growing gold producer committed to maximizing
shareholder value through a strategy of efficient production, targeted
exploration and select acquisitions. The company operates the wholly
owned Black Fox Mine in the Timmins gold district of Ontario, Canada.
The Black Fox Operations encompass the adjoining Grey Fox and Pike River
properties, all in the Township of Black River-Matheson, Ontario,
Canada. Brigus Gold is also advancing the Goldfields Project located
near Uranium City, Saskatchewan, Canada, which hosts the Box and Athona
gold deposits. In Mexico, Brigus Gold holds a 100 percent interest in
the Ixhuatan Property located in the state of Chiapas, and the Huizopa
Joint Venture, an 80 percent interest in an early stage, gold-silver
exploration joint venture located in the State of Chihuahua. In the
Dominican Republic, Brigus Gold and Everton Resources have a joint
venture for the APV and Loma El Mate gold exploration projects.
These securities discussed in this news release have not been and will
not be registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state, and may not be offered or
sold in the United States or to, or for the account or benefit of, U.S.
persons unless an exemption from the registration requirements of the
United States Securities Act of 1933, as amended, and all applicable
state securities laws is available. This press release does not
constitute an offer to sell or the solicitation of an offer to buy these
securities in the United States or to, or for the account or benefit of,
U.S. persons.
FORWARD-LOOKING STATEMENTS
This news release includes 'Forward-Looking Statements? within the
meaning of section 21E of the United States Securities Exchange Act of
1934, as amended. All statements regarding the use of proceeds from the
sale of the Flow-Through Shares involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate
and actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from these forward-looking
statements are disclosed under the heading 'Risk Factors? in Brigus
Gold′s and its predecessor companies′ most recent annual report on Form
10-K and elsewhere in documents filed from time to time with the Toronto
Stock Exchange, the NYSE Amex, The United States Securities and Exchange
Commission and other regulatory authorities. All forward-looking
statements included in this news release are based on information
available to the Company on the date hereof. The Company assumes no
obligation to update any forward-looking statements, except as required
by applicable securities laws.
