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Client Work

Banro Corporation completes US$56 million offering

Fasken
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Client

RBC Capital Markets

On May 10, 2006 Banro Corporation, a mineral resource exploration and development company developing gold projects in the Democratic Republic of Congo, completed a short-form prospectus offering and on May 15 the underwriting syndicate exercised in full its over-allotment option in respect of the offering. This resulted in the issuance by Banro of an aggregate of 4,276,000 common shares for gross proceeds of approximately $56 million. The underwriting syndicate (led by RBC Capital Markets, and including Raymond James Ltd. and MGI Securities Inc.) was represented by Fasken Martineau, with a team that included Al Gourley (global mining/securities) in London, U.K. and Martin Fisher-Haydis (US securities) with the assistance of student-at-law Catherine Fraser in Toronto, and Dimitri Cavvadas (corporate) in Johannesburg, South Africa.

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