Augusta Resource closes $32.5 million share offering
Client
Augusta Resource Corporation
Date
March 12, 2010
On March 12, 2010, Augusta Resource Corporation (TSX:AZC)(NYSE Amex:AZC) announced that it had closed its previously announced $32.5 million bought deal financing. The offering was conducted by a syndicate of underwriters for the issuance of 11,820,000 common shares of Augusta at a price of $2.75 per share for gross proceeds of $32,505,000.
Augusta plans to use the net proceeds of this financing to advance the development of the Rosemont Copper property located in Pima County, Arizona and for general working capital purposes.
Augusta was advised in this transaction by a team from Fasken Martineau that included Georald Ingborg, Steve Saville and Amanda MacAdams.
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