Mineral Deposits Limited

Mineral Deposits Limited

June 21, 2011 19:10 ET

Mineral Deposits Completes Institutional Entitlement Offer and Placement

MELBOURNE, AUSTRALIA--(Marketwire - June 21, 2011) -


Mineral Deposits Limited (TSX:MDM)(ASX:MDL) is pleased to announce the completion of the institutional component of its recently announced equity raising, with a total of $136 million raised from participating and eligible institutional investors.

The funds were raised through the institutional component of the 1-for-4 accelerated non-renounceable pro-rata entitlement offer ("Institutional Entitlement Offer") and the institutional placement (together the "Institutional Offer"), which were priced at $6.00 per New Share.

The Institutional Offer enjoyed strong support from shareholders and a broad range of new investors.

Mineral Deposits' Executive Chairman, Mr Nic Limb, said: "We are delighted with the results of the institutional component of the equity raising and I would like to thank our shareholders for their continued support. We now look forward to welcoming participation from our retail shareholders when the retail entitlement offer opens on Monday."

New shares issued under the Institutional Offer will rank equally with existing Mineral Deposits shares.

Settlement of the Institutional Offer is scheduled for Tuesday, 28 June 2011, with new shares expected to be issued Wednesday, 29 June 2011 and trading to commence on the same day.

Retail Entitlement Offer

The retail component of the entitlement offer ("Retail Entitlement Offer") opens on Monday, 27 June 2011 and is expected to close at 5.00pm (Melbourne time) on 11 July 2011, raising up to approximately $15 million. The Retail Entitlement Offer is not underwritten.

Retail shareholders who are eligible to participate under the terms of the Retail Entitlement Offer ("Eligible Retail Shareholders") will have the opportunity to participate at the same price and offer ratio as under the Institutional Entitlement Offer.

Details of the Retail Entitlement Offer will be mailed to Eligible Retail Shareholders shortly. If they have any questions, Eligible Retail Shareholders should contact the Mineral Deposits Information Line on 1300 583 860 (for calls within Australia) and +61 3 9415 4689 (for calls outside Australia) between 8:30am and 5:00pm (Melbourne time) Monday to Friday during the Offer Period for further information.

Goldman Sachs is acting as sole lead manager and bookrunner to the Offer, and joint underwriter together with Euroz Securities and GMP Securities.

Mineral Deposits shares will resume trading on the ASX today.

This release does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The securities to be issued in the proposed offering have not been and will not be registered under the U.S. Securities Act of 1933 (the "Securities Act"), or under the securities laws of any state or other jurisdiction of the United States. Securities may not be offered or sold in the United States, unless the securities have been registered under the Securities Act, or in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws.

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