High River Gold Mines Ltd.
TSX : HRG

High River Gold Mines Ltd.

July 27, 2005 12:22 ET

High River Gold Closes Cdn $30 Million Bought Deal

TORONTO, ONTARIO--(CCNMatthews - July 27, 2005) - High River Gold Mines Ltd. ("High River") (TSX:HRG) is pleased to announce that today it closed its previously announced public offering for a total of 24,000,000 units at Cdn $1.25 per unit, each unit comprised of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of High River at a price of Cdn $1.60 at any time prior to January 27, 2007.

Gross proceeds of the offering were Cdn $30 million and the net proceeds, after deducting the underwriters' fee, were approximately Cdn $28.4 million. The offering was made through a syndicate of underwriters including Sprott Securities Inc., Dundee Securities Corporation and Paradigm Capital Inc. Proceeds of the offering will be used by the Company for general corporate purposes.

Contact Information

  • High River Gold Mines Ltd.
    David Mosher
    President and CEO
    (416) 947-1440
    (416) 360-0010 (FAX)
    or
    High River Gold Mines Ltd.
    Don Whalen
    Executive Chairman
    (416) 947-1440
    (416) 360-0010 (FAX)
    info@hrg.ca
    www.hrg.ca