First Quantum plans C$1.44 billion share offering

First Quantum Minerals Ltd. announced today that it has entered into an underwriting agreement to sell 76,923,000 common shares of First Quantum at a price of C$16.25 per common share to raise gross proceeds of C$1.25 billion. First Quantum has granted the Underwriters an over-allotment option to purchase an additional 11,538,450 common shares of First Quantum at the Offering Price, exercisable at any time, and from time to time, in whole or in part, up to 30 days from the closing of the Offering (the “Over-Allotment Option”). If the Over-Allotment Option is exercised in full, the total gross proceeds to First Quantum will be C$1.44 billion. First Quantum intends to use the net proceeds of the Offering to advance and expand existing production facilities, to increase financial flexibility through the reduction of net debt, and for general corporate purposes, including strategic investments to further enhance its returns and growth pipeline. First Quantum is being advised by Fasken Martineau with a team led by John Turner, and including Daniel Batista, Alex Nikolic, Jessica Catton, David Steinhauer, Jesse Bertollo, Ryan Mapa, Lata Casciano (Corporate Finance), Christopher Steeves and Corum Van Esch (Tax).