OGC
04/12/2012 10:04
PLACE
REL: 1004 HRS OceanaGold Corporation (NS)
PLACE: OGC: OCEANAGOLD ANNOUNCES CDN$93,300,000 BOUGHT DEAL FINANCING
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO U.S. NEWS WIRE SERVICES
4 December 2012
OCEANAGOLD ANNOUNCES CDN$93,300,000 BOUGHT DEAL FINANCING
(MELBOURNE) OceanaGold Corporation (ASX: OGC, TSX: OGC, NZX: OGC) (the
"Company") is pleased to announce that it has entered into an agreement with
a syndicate of underwriters, led by Citigroup Global Markets Canada Inc. and
Macquarie Capital Markets Canada Ltd. (the "Lead Underwriters"), and
including Cormark Securities Inc., GMP Securities L.P. and BMO Capital
Markets (collectively, with the Lead Underwriters, the "Underwriters"),
pursuant to which the Underwriters have agreed to purchase a total of
30,000,000 common shares of the Company (including common shares represented
by ASX-listed CHESS Depository Interests ("CDIs") (together, the
"Securities") on a bought deal basis at a price of CDN$3.11 per Security (the
"Common Share Offering Price") for aggregate gross proceeds of CDN$93,300,000
(the "Offering").
The CDIs will be purchased for the Australian dollar equivalent (AUD$3.00) of
the Common Share Offering Price ("CDI Offering Price").
The Securities will be offered by way of a short form prospectus in each of
the provinces of Canada (other than Quebec), and in such other jurisdictions,
including Australia, where the Securities can be issued on a private
placement basis, exempt from any prospectus, registration or other similar
requirements.
While commissioning at the Didipio project remains on schedule with the
commencement of milling last week, the Board remains focused on maintaining
more prudent gearing levels in line with industry peers. Accordingly, the
Company will use the net proceeds from the Offer to reduce outstanding debt
and to provide balance sheet and operating flexibility.
The Offering is expected to close on or about 18 December 2012 ("Closing").
The Underwriters of the Offering have also been granted an option (the
"Over-Allotment Option") to purchase up to an additional 15% of the number of
Securities, at the Common Share Offer Price or CDI Offering Price (as the
case may be) on the same terms and conditions as the Offering. The
Over-Allotment Option is exercisable in whole or in part at any time within
30 days of the Closing at the sole discretion of the Lead Underwriters.
The Offering is subject to certain customary conditions and regulatory
approvals, including the approval of the Toronto Stock Exchange.
- ENDS -
For further information please contact:
OceanaGold Corporation
Investor Relations - Melbourne
Nova Young or Darren Klinck
Tel: +61(3) 9656 5300
Investor Relations - Toronto
Sam Pazuki
+1 416 915 3123
[email protected] / www.oceanagold.com
About OceanaGold
OceanaGold Corporation is a significant Asia Pacific gold producer with
projects located on the South Island of New Zealand and in the Philippines.
The Company's assets encompass New Zealand's largest gold mining operation at
the Macraes goldfield in Otago which is made up of the Macraes Open Pit and
the Frasers Underground mines. Additionally on the west coast of the South
Island, the Company operates the Reefton Open Pit mine. OceanaGold produces
approximately 230,000 ounces of gold per annum from the New Zealand
operations. The Company also owns the Didipio Project in northern Luzon,
Philippines where commissioning activities are currently underway. Currently,
Didipio is expected to produce 100,000 ounces of gold and 14,000 tonnes of
copper per year over an estimated 16 year mine life.
OceanaGold is listed on the Toronto, Australian and New Zealand stock
exchanges under the symbol OGC.
Important Information
This announcement contains certain 'forward looking statements' within the
meaning of the securities laws of applicable jurisdictions including
statements related to the offering, over-allotment, use of proceeds and
closing date. Forward looking statements can generally be identified by the
use of forward looking words such as 'may,' 'should,' 'expect,' 'anticipate,'
'estimate,' 'scheduled' or 'continue' or the negative thereof or comparable
terminology. Any forecasts or other forward looking statements contained in
this announcement are subject to known and unknown risks and uncertainties
and may involve significant elements of subjective judgment and assumptions
as to future events which may or may not be correct. Although our management
believes that the assumptions made and the expectations represented by such
statement or information are reasonable, there can be no assurance that any
forward-looking statement or information referenced herein will prove to be
accurate. There are usually differences between forecast and actual results
because events and actual circumstances frequently do not occur as forecast
and these differences may be material. OceanaGold Corporation does not give
any representation, assurance or guarantee that the occurrence of the events
expressed or implied in any forward looking statements in this announcement
will actually occur and you are cautioned not to place undue reliance on
forward looking statements. The Company undertakes no obligation to reissue
or update any forward-looking statements or information as a result of new
information or events after the date hereof except as may be required by law.
This announcement does not constitute an offer, invitation or recommendation
to subscribe for or purchase any securities and neither this announcement nor
anything contained in it shall form the basis of any contract or commitment.
In particular, this announcement does not constitute an offer to sell, or a
solicitation of an offer to buy, securities in the United States, or in any
other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be registered
under the Securities Act, or under the securities laws of any state or other
jurisdiction of the United States and may not be offered or sold, directly or
indirectly, within the United States, unless the securities have been
registered under the Securities Act of 1933, as amended (the "Securities
Act") or an exemption from the registration requirements of the Securities
Act is available.
End CA:00230639 For:OGC Type:PLACE Time:2012-12-04 10:04:39
