Lago Dourado Minerals Ltd.

Lago Dourado Minerals Ltd.

November 08, 2010 17:13 ET

Lago Dourado Minerals Ltd. Files Final Prospectus for Initial Public Offering for Gross Proceeds of Up to $8.2 Million

TORONTO, ONTARIO--(Marketwire - Nov. 8, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES

Lago Dourado Minerals Ltd. (the "Company") announces that it has filed a final prospectus with the securities regulatory authorities in each of the provinces of Canada, other than Québec, in connection with a proposed initial public offering (the "Offering") of its common shares (the "Common Shares").

Pursuant to the Offering, the Company will issue up to 16,400,000 Common Shares at an issue price of $0.50 per Common Share (the "Issue Price") for gross proceeds to the Company of up to $8,200,000. The Company has also granted the Agents (as defined below) an over-allotment option, exercisable for 30 days from the closing date, to purchase up to an additional 2,000,000 Common Shares at the Issue Price to cover over-allotments, if any, and for market stabilization purposes. Closing is scheduled for November 16, 2010. The TSX Venture Exchange (the "Exchange") has conditionally approved the listing of the Common Shares of the Company, subject to the Company satisfying the customary listing requirements of the Exchange.

The syndicate of agents for the Offering is being led by Jennings Capital Inc. and includes Raymond James Ltd. (the "Agents").

A copy of the Company's final prospectus is available on the SEDAR website at www.sedar.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation of sale would be unlawful. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom. Any public offering of the securities in the United States may only be made by means of a prospectus containing detailed information about the Company and its management as well as financial statements.

About the Company

Lago Dourado Minerals Ltd. is a mineral exploration company that acquires and explores mineral properties, primarily for gold in Brazil.

This press release contains forward-looking statements, which can be identified by the use of statements that include words such as "will", "scheduled" or other similar words or phrases. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.

Contact Information

  • Lago Dourado Minerals Ltd.
    Forbes Gemmell
    President and Chief Executive Officer
    (416) 368-5005
    fgemmell@lagodourado.net