Eldorado Gold completes $46 million bought deal financing

On December 23, 2002, Vancouver-based Eldorado Gold Corporation closed an offering of units by way of short form prospectus for gross proceeds of $46 million, including the exercise of the underwriters' option and over-allotment option. The company expects to use the net proceeds of the offering to finance development of its Kisladag property in Turkey and for general corporate purposes. The offering was undertaken on a bought deal basis by a syndicate of underwriters led by Yorkton Securities Inc. and including Sprott Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Research Capital Corporation and Haywood Securities Inc.

Eldorado was represented by Lata Casciano (securities), Josh Lewis (mining, corporate commercial), Adrian Dirassar (securities) , Melody Schalm (securities) and Georald Ingborg (securities) of Fasken Martineau in Vancouver