FNX Mining Company Inc.
TSX : FNX

FNX Mining Company Inc.

September 09, 2009 09:45 ET

FNX Completes $144 Million Financing

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

FNX Mining Company Inc. (TSX:FNX) ("the Company") is pleased to announce that it has closed its previously announced bought deal equity financing, including the full amount of the over-allotment option, for aggregate gross proceeds to the Company of $144,267,500. A syndicate of underwriters, co-led by BMO Capital Markets and GMP Securities L.P., and including Dundee Securities Corporation and RBC Dominion Securities Inc., purchased an aggregate of 14,950,000 units at a price of $9.65 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one common share of the Company at a price of $13.00 at any time prior to September 9, 2012. The warrants are listed on the Toronto Stock Exchange under the trading symbol "FNX.WT".

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

Forward-Looking Statement

This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. In this news release, statements about completion of the announced financing and final proceeds are examples of forward-looking statements. There is no guarantee that the announced financing will receive all final approvals and be completed at all. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to publicly update any such statement or reflect new information or the occurrence of future events or circumstances, except where required by securities regulations. Accordingly, readers should not place undue reliance on forward-looking statements.

Contact Information

  • FNX Mining Company Inc.
    Terry MacGibbon
    Chairman and Chief Executive Officer
    416-628-5929
    or
    FNX Mining Company Inc.
    Ronald P. Gagel
    Senior Vice President and Chief Financial Officer
    416-628-5929
    or
    FNX Mining Company Inc.
    David Constable
    Vice President Investors Relations
    416-628-5929
    info@fnxmining.com
    www.fnxmining.com