On November 27, 2007 MAG Silver Corp. (TSX:MAG; AMEX:MVG) announced the closing of the previously announced bought deal private placement of 3,000,000 common shares of MAG Silver at a price of Cdn$15.50 per Common Share for gross proceeds of Cdn$46,500,000.
MAG Silver will use the net proceeds from the Offering to fund further exploration of the Peñoles/MAG Juanicipio Joint Venture and other projects within Mexico and for working capital purposes. The Company now has approximately $59 million in working capital.
Charlotte P. Bell and Lindy Bremner advised MAG Silver in this transaction.