PMEA Blog

VANCOUVER, Feb. 5 /CNW/ - CGA Mining Limited (ASX: CGX, TSX: CGA) (”CGA” or the “Company”) is pleased to announce that it has successfully closed its previously announced private placement, on a bought deal basis, of 39,100,000 ordinary shares in the capital of the Company (”Shares”). The net proceeds from the sale of the Shares will be used to repay indebtedness, including the 12% Senior Promissory Notes, to increase exploration activity at the Masbate Gold Project and for general corporate purposes.

The Shares were sold at C$2.20 per Share. CGA entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and including Haywood Securities Inc., under which the underwriters (”the Underwriters”) agreed to buy the Shares on a private placement, bought deal basis.

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