Amazon Mining Holding Plc
TSX VENTURE : AMZ

Amazon Mining Holding Plc

November 21, 2007 09:56 ET

Amazon Mining Holding Plc Announces Closing of $16,000,000 Initial Public Offering and Listing on the TSX Venture Exchange

TORONTO, ONTARIO--(Marketwire - Nov. 21, 2007) -

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Attention Business Editors:

Amazon Mining Holding Plc ("Amazon") (TSX VENTURE:AMZ) is pleased to announce today that it has completed an initial public offering (the "Offering") of 13,333,333 units (each a "Unit") at the price (the "Offering Price") of $1.20 per Unit, for gross proceeds of approximately $16,000,000. Each Unit consists of one ordinary share of Amazon (each an "Ordinary Share") and one-half of one Ordinary Share purchase warrant (each a "Warrant"), with each whole Warrant entitling the holder thereof to acquire an additional Ordinary Share at the price of $1.55 per share expiring November 21, 2009, subject to acceleration in the event the closing price of the Ordinary Shares on the TSX Venture Exchange (the "TSX-V") at any time prior to November 21, 2008 exceeds $2.10 for 20 consecutive trading days. The Ordinary Shares will commence trading on the TSX-V today under the symbol "AMZ".

A syndicate led by Cormark Securities Inc., and including Dundee Securities Corporation and GMP Securities L.P., acted as agents (the "Agents") under the Offering and were paid a cash commission of 6% of the gross proceeds raised thereunder. The Agents were also issued compensation options to acquire up to a total of 800,000 Units at the Offering Price expiring November 21, 2009.

The Corporation has granted to the Agents an over-allotment option (the "Over-Allotment Option"), exercisable until December 21, 2007, to purchase up to 1,966,667 additional Units at the Offering Price for market stabilization purposes. The Agents may elect to exercise the Over-Allotment Option to purchase additional Units only or additional Warrants only, or any combination of additional Units and additional Warrants, so long as the aggregate number of additional Ordinary Shares and additional Warrants issued upon the exercise of the Over-Allotment Option does not exceed 1,966,667 and 983,334, respectively.

Amazon is a U.K.-based mineral exploration company engaged in acquiring and developing gold exploration properties in Brazil. Its strategic focus is to acquire projects with demonstrated potential for hosting gold deposits, and to define resources through exploration and drilling campaigns. Amazon's activities are currently focused on the Tocantins Gold Project, located in the state of Tocantins, in central Brazil, and on the Madeira Gold Project, located in the states of Rondonia and Amazonas, in northwestern Brazil.

The directors of Amazon are Messrs. Cristiano Veloso, Getulio Lamartine de Paula Fonseca, Kevin van Niekerk, Simon Lawrence and Richard Topham. Mr. Veloso is also the President and Chief Executive Officer of Amazon, and Manoel Carlos Cerqueira is its Chief Financial Officer. Dr. Joao Batista Guimares Teixeira is Amazon's Chief Geoscientist.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Amazon Mining Holding Plc
    Cristiano Veloso
    President and Chief Executive Officer
    +44(0)20 7404 7338
    +44(0)2074057773 (FAX)
    Email: info@amazonplc.com