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Message: Announces Cdn$80.6 Million Bought Deal Financing

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Announces Cdn$80.6 Million Bought Deal Financing

posted on Apr 03, 09 01:47AM

April 2, 2009

Consolidated Thompson Announces Cdn$80.6 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwire - April 2, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMENATION IN THE UNITED STATES

Consolidated Thompson Iron Mines Limited (TSX:CLM) ("Consolidated Thompson" or the "Company") is pleased to announce that the Company has entered into an agreement with a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including, Canaccord Capital Corporation, BMO Capital Markets, Clarus Securities Inc., and Dundee Securities Corp. (collectively the "Underwriters") under which the Underwriters have agreed to purchase 31,000,000 common shares (the "Common Shares") of Consolidated Thompson at a price of Cdn$2.60 per Common Share (the "Issue Price") for aggregate gross proceeds of Cdn$80,600,000 (the "Offering"). Consolidated Thompson will grant the Underwriters an over-allotment option, to purchase up to an additional 4,650,000 Common Shares (for additional gross proceeds of Cdn$12,090,000), exercisable at the Issue Price at any time until the 30th day following the closing date of the Offering.

The Common Shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, except Quebec.

The net proceeds from the Offering are intended to be used to complete construction of the Bloom Lake project and for general working capital and corporate purposes.

Closing of the Offering is anticipated to occur on or about April 27, 2009 and is subject to certain conditions including receipt of applicable regulatory approvals including approval of the Toronto Stock Exchange.

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