Roxgold Inc.
TSX VENTURE : ROG

Roxgold Inc.

March 25, 2014 08:56 ET

Roxgold Inc. Completes C$29 Million Bought Deal Offering

TORONTO, ONTARIO--(Marketwired - March 25, 2014) -

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

Roxgold Inc. (the "Company") (TSX VENTURE:ROG) has today announced that it has completed its previously announced public offering (the "Offering") of 49,680,000 common shares ("Common Shares"), pursuant to its short form prospectus dated March 17, 2014, raising gross proceeds of C$28,814,400. The underwriters, led by BMO Capital Markets and including Cormark Securities Inc., Raymond James Ltd., RBC Capital Markets Inc., Toll Cross Securities Inc., GMP Securities L.P., Haywood Securities Inc. and Macquarie Capital Markets Canada Ltd. (collectively, the "Underwriters"), purchased all of the 6,480,000 Common Shares available for issuance pursuant to the exercise of their over-allotment option, in addition to the 43,200,000 Common Shares that the Underwriters initially agreed to purchase. As of today's date and factoring the Common Shares issued pursuant to the closing of the Offering, Roxgold has 235,782,698 Common Shares issued and outstanding.

The Company intends to use the net proceeds of the Offering to advance the Yaramoko Gold Project and further exploration at the property, as well as for general working capital purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

ABOUT ROXGOLD:

Roxgold is a gold exploration and development company with its key asset, the high grade, 100% owned Yaramoko Gold Project located in the mineral-rich Houndé greenstone region of Burkina Faso, West Africa. The Company announced a Preliminary Economic Assessment in September 2013 which demonstrated attractive potential economics and is currently completing a Feasibility Study which is expected to be completed in the second quarter of 2014. Roxgold trades on the TSX Venture Exchange under the symbol ROG.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Roxgold Inc., including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing and the timing of completion of the Feasiblity Study for the Yaramoko project. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Contact Information

  • Roxgold Inc.
    Annelise Burke
    Manager, Investor Relations and Corporate Communications
    416-203-6401
    Aburke@roxgold.com