More for the piggy bank to wait out Fres.

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Mag Silver arranges $32-million financing
Ticker Symbol: C:MAG

Mag Silver arranges $32-million financing

Mag Silver Corp (C:MAG)
Shares Issued 49,888,042
Last Close 4/23/2010 $7.95
Monday April 26 2010 - News Release

Mr. Gordon Neal reports

MAG Silver Corp.-Announces Bought Deal Financing

Mag Silver Corp. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy, on bought-deal basis, by way of a short-form prospectus, 4,185,000 common shares, at a price of $7.65 per common share, for gross proceeds of approximately $32-million. The Company has also granted the underwriters an option to buy up to an additional 10% of the Common Shares at the offering price to cover over-allotment, if any. The offering is expected to close on or about May 18, 2010 and is subject to Company receiving all necessary regulatory approvals.

The net of proceeds of the offering will be to fund development of Juanicipio and Cinco de Mayo as well as for general corporate purposes

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