Baja Mining Corp.
TSX VENTURE : BAJ

Baja Mining Corp.

April 06, 2006 07:30 ET

Baja Mining Corp.: Private Placement of $23 Million Scheduled to Close April 13th

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 6, 2006) -

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

Baja Mining Corp. (TSX VENTURE:BAJ) (the "Company") is pleased to advise, further to an initial press release dated March 27, 2006, that a "best efforts" private placement (the "Placement"), with a syndicate led by Westwind Partners Inc., and including Haywood Securities Inc. (the "Agents"), to raise $14 million by issuance of up to 15,555,556 units at a price of $0.90 per unit, has been conditionally accepted by the TSX Venture Exchange (the "Exchange").

The Company has also granted the Agents an option, exercisable until 30 days from the closing of the Placement, to purchase, at the issue price of $0.90, up to 10,000,000 additional units. The Company is pleased to advise that the Agents' option will be exercised in full and the gross proceeds to the Company from the Placement will be $23.0 million. The Agents' option has also been conditionally accepted by the Exchange.

The Company intends to close the $23 million Placement on Thursday, April 13, 2006.

Final acceptance is subject to filing of the appropriate and necessary closing documents as required by the Exchange. The Company will issue a further press release upon closing and final acceptance of the Placement.

ON BEHALF OF THE BOARD OF DIRECTORS OF BAJA MINING CORP.

JOHN W. GREENSLADE, PRESIDENT

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

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

Contact Information

  • Baja Mining Corp.
    John Greenslade
    President
    (604) 685-2323
    (604) 629-5228 (FAX)
    www.bajamining.com