Welcome To The Gold Wheaton Corp. HUB On AGORACOM
Gold Wheaton purchases the gold by-product streams from the production of existing mines or mines currently being constructed.
Message: Announces Closing of C$100 Million Debt Financing
| May 26, 2009 |
| Gold Wheaton Announces Closing of C$100 Million Debt Financing |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2009) - NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES Gold Wheaton Gold Corp. (TSX VENTURE:GLW) ("Gold Wheaton" or the "Company") is pleased to announce that it has closed the C$100 million debt financing announced on March 31, 2009 with Sprott Asset Management Inc. on behalf of certain funds and managed accounts ("Sprott") and pursuant to a note indenture and first supplemental note indenture has drawn down C$50 million, as well as C$7 million of the C$15.0 million overallotment option with certain other investors. In connection with such closing, the Company has issued 71.25 million warrants exercisable at C$0.50 per share for five years from the date of closing. As previously announced the notes bear interest at the rate of 10% per annum and have a five year term. The notes and the warrants associated with the draw down have a hold period that expires on September 27, 2009. Gold Wheaton anticipates completing a second draw down of the remaining C$50.0 million debt financing within a six month period. Gold Wheaton also has the option to increase the offering of notes by an additional principal amount of C$8.0 million (residual on the C$15.0 million overallotment option) with additional warrants issued proportionally on the same terms described herein. Gold Wheaton was advised by Paradigm Capital Inc. who will receive a cash fee of 1.5% of the gross proceeds of the offering. The net proceeds of the debt financing will be used for general corporate purposes, including future gold stream acquisitions. Gold Wheaton is a gold company with 100% of its operating revenue from the sale of gold and precious metals produced by others. The Company is actively pursuing further growth opportunities. The Company's 1,430,469,668 issued and outstanding shares are listed on the TSX Venture Exchange under the symbol "GLW". |
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