TMAC Resources Inc.

TMAC Resources Inc.

June 02, 2015 06:00 ET

TMAC Resources Announces Filing of Preliminary Prospectus for Initial Public Offering to Fully Fund Hope Bay

TORONTO, ONTARIO--(Marketwired - June 2, 2015) -

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

TMAC Resources Inc. ("TMAC" or the "Company") is pleased to announce that it has filed a preliminary prospectus dated June 1, 2015 (the "Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec, in connection with a proposed Initial Public Offering ("IPO" or the "Offering") of its common shares.

The Company also announces that it has entered into a non-binding term sheet with Sprott Resource Lending Partnership and Morgan Stanley Capital Group Inc. (together, the "Lenders") for a proposed senior secured term loan facility (the "Debt Facility") in the aggregate principal amount of up to US$120 million. Completion of the Debt Facility is subject to, among other things, execution of definitive documentation, satisfactory completion of due diligence by the Lenders and completion of the Offering.

Terry MacGibbon, TMAC's Executive Chairman stated, "This is an important day for TMAC and I thank everyone for their hard work and dedication to allow us to take these steps to fully fund TMAC as it moves to bring the Hope Bay Project into production by the end of 2016."

A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment.

The Offering is being made through a syndicate of underwriters led by BMO Capital Markets and CIBC World Markets Inc. and includes Dundee Securities Ltd., GMP Securities L.P., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

A copy of the preliminary prospectus is available from the persons above and is on the SEDAR website at www.sedar.com. The preliminary prospectus notes that an investment in the common shares of the Company is speculative and involves a high degree of risk. The Company's business is subject to the risks normally encountered in the mining industry. An investment in the common shares of the Company is suitable only for those investors who are willing to risk a loss of some or all of their investment. For more information, potential investors should read the preliminary prospectus, including the "Risk Factors".

This press release is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia) or any other jurisdiction outside Canada. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities offered pursuant to the Prospectus have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States other than pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offer of securities in the United States.

About TMAC Resources

TMAC Resources Inc. was incorporated under the OBCA on October 30, 2012. The Company's principal business objectives are the acquisition, exploration and development of precious metal resource properties. The Company's principal asset is a 100% interest in the Hope Bay Project, which it acquired from Newmont in March 2013. The Company's near term goal is to bring the Hope Bay Project into production, beginning with bringing the Doris deposit into production by the end of 2016.

Since TMAC's incorporation, it has focused on the exploration and development of the Hope Bay Project and the raising of equity capital to fund property exploration and development. The Company has an experienced board of directors with depth of experience and market credibility and an exploration and development team with an extensive track record of developing high grade, profitable underground mines.

No securities regulatory authority has either approved or disapproved of the contents of this press release.

Contact Information

  • Terry MacGibbon
    416-520-3516

    Catharine Farrow
    416-628-0216