Southern Hemisphere Mining Limited
TSX VENTURE : SH
ASX : SUH

Southern Hemisphere Mining Limited

December 08, 2010 09:00 ET

Southern Hemisphere Closes Second Tranche of Private Placement

PERTH, WESTERN AUSTRALIA--(Marketwire - Dec. 8, 2010) - Southern Hemisphere Mining Limited (TSX VENTURE:SH)(ASX:SUH) -

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

The Company announces that it has completed the final tranche of its $20 million brokered private placement announced on October 27, 2010.

A total of $7,510,209 was raised in Australia pursuant to the final tranche, consisting of 17,881,450 common shares, represented in Australia by CHESS Depository Interests (CDIs) issued at a price of $0.42 per CDI. A cash commission of 6% of the amount raised was paid to the Company's Australian agent, Euroz Securities Limited.

The CDIs issued pursuant to the final tranche, as well as the CDIs issued pursuant to the first tranche of the private placement which was the subject matter of the Company's news release of November 9, are subject to a four-month statutory hold period in Canada commencing on the date of issuance of the CDIs and cannot be resold into Canada during such period, unless an exemption is available from the applicable prospectus requirements in Canada. However, the CDIs are tradable on the ASX.

Neither 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 press release.

Contact Information

  • Southern Hemisphere Mining Limited
    Trevor Tennant
    CEO
    +56 (9) 7766 4688
    www.shmining.com.au
    or
    Current Market Communications Inc.
    Clark Kent
    Managing Partner
    416-883-3838 or Cell: 647-519-2646
    866-516-6887 (FAX)
    ckent@currentmca.com