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YRI Raises financing to $135 million
Dec 10, 2008 07:43AM
Gold producer Yamana raises financing to $135 million
Wed Dec 10, 11:23 AM The Canadian Press
By The Canadian Press
TORONTO - Gold producer Yamana Gold Inc. (TSX: YRI.TO) says it has raised a planned $100 million financing to $135 million, more than a third higher than its earlier plans.
The Toronto miner said Wednesday it will issue up to 22.5 million shares in a bought deal offering to an underwriting group led by bought deal with a syndicate of underwriters led by Canaccord Capital Corp. (TSX: CCI.TO) and Scotia Capital Inc.
That's 5.8 million more shares than what it planned to issue in a $100 million financing announced earlier Wednesday.
The money will be used for for ongoing capital requirements, for debt reduction or capital spending, Yamana said.
The financing is slated to close in late December.
Yamana is a company with operations in Brazil, Argentina, Chile, Mexico, Central America and the United States