Ampella Mining Limited
ASX : AMX

Ampella Mining Limited

September 08, 2010 11:39 ET

Ampella Announces Terms of Equity Offering

SUBIACO, WESTERN AUSTRALIA--(Marketwire - Sept. 8, 2010) -

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

Ampella Mining Limited ("Ampella") (ASX:AMX) is pleased to announce that it has finalized the terms of its previously announced equity financing. Ampella intends to offer 21,500,000 ordinary shares at a price of A$1.95 per ordinary share for gross proceeds of A$41.925 million. Ampella intends to offer the shares as part of a comprehensive equity funding package comprised of a private placement to institutional investors in North America and Europe, a private placement to institutional investors in Australia (collectively the "Private Placements") and an underwritten share purchase plan to existing Ampella shareholders (the "Share Purchase Plan"). 

The North American and European component of the Private Placements is being managed by a syndicate of agents led by CIBC World Markets Inc. and including Cormark Securities Inc. and Paradigm Capital Inc.

The Australian component of the Private Placements and the Share Purchase Plan will be managed by Patersons Securities Limited. Existing Ampella shareholders will be able to participate in the Share Purchase Plan, with key details and a timetable to be announced as soon as possible. 

The proceeds of the share offers will be used for exploration at Ampella's Batie West Project, working capital, expenses of the offers and general corporate purposes.

The Private Placements are expected to close on September 21, 2010. 

The securities described herein have not been and will not be registered under the United States Securities Act of 1933 ("1933 Act"), as amended, or the securities laws of any state and may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws absent an exemption from registration.

Contact Information

  • Ampella Mining Limited
    Evan Cranston
    Executive Director - Corporate
    +61 408 865 838
    www.ampella.com.au