First Quantum Minerals Ltd.
LSE : FQM
TSX : FM

First Quantum Minerals Ltd.

April 06, 2009 10:08 ET

First Quantum Minerals Announces Closing of CDN$345,718,750 Equity Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2009) -

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

First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) announced today that it has completed the previously announced overnight marketed public offering of common shares of the Company (the "Offering") at a price of Cdn$37.00 per common share. Including the common shares issued on the exercise of the over-allotment option, First Quantum issued 9,343,750 common shares for aggregate gross proceeds of Cdn$345,718,750.

The underwriting syndicate was led by Morgan Stanley and RBC Capital Markets and included BMO Nesbitt Burns Inc., Scotia Capital Inc. and UBS Securities Canada Inc.

The net proceeds from the Offering are expected to be used to continue with its committed capital projects, to further strengthen its capital position and for general corporate purposes.

This news release is not an offer of securities for sale in the United States. The securities described above have not been and will not be registered under the U.S. Securities Act of 1933, and may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, or an applicable exemption from the registration requirements thereof.

On Behalf of the Board of Directors of First Quantum Minerals Ltd.

G. Clive Newall, President

Listed in Standard and Poor's

12g3-2b-82-4461

Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable Canadian securities legislation. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements include comments regarding the completion and terms of the proposed Offering and the use of proceeds therefrom.

Factors that could cause actual results or events to differ materially from current expectations include, among other things, risks relating to global political uncertainties, unanticipated events impacting the use of proceeds from the offering, changes in the prices of gold and/or copper; and changes in Canadian, U.S. and United Kingdom securities markets. In addition, specific reference is made to "Caution With Respect to Forward-Looking Statements and Information" and "Risk Factors" in the Company's Annual Information Form dated March 6, 2009. There can be no assurance that future developments affecting the Company will be those anticipated by management. While the Company may elect to update the forward-looking statements at any time, the Company does not undertake to update them at any particular time or in response to any particular event. Investors and others should not assume that any forward-looking statement in this press release represent management's estimate as of any date other than the date of this press release.

Contact Information

  • First Quantum Minerals Ltd. - North American Contact
    Sharon Loung
    (604) 688-6577 or Toll Free: 1-888-688-6577
    (604) 688-3818 (FAX)
    Email: sharon.loung@fqml.com
    or
    First Quantum Minerals Ltd. - United Kingdom Contact
    Clive Newall
    President
    +44 140 327 3484
    +44 140 327 3494 (FAX)
    Email: clive.newall@fqml.com
    Website: www.first-quantum.com
    or
    Hogarth Partnership Ltd.
    Simon Hockridge
    +44 (0) 20 7357 9477