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Client Work

Skye Resources closes US$75 million offering

Fasken
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Overview

Client

Skye Resources

On October 26, 2007, Skye Resources Inc. announced that it had closed its offering of 5,400,000 units of Skye at a price of $12.10 per Unit and that the over-allotment option for a further 810,000 Units had been exercised. Total gross proceeds were $75,141,000. Each Unit consisted of one common share of Skye and one-half of one common share purchase warrant of Skye, with each whole warrant entitling the holder thereof to acquire a further common share at an exercise price of $15.13 per share until January 26, 2009. TD Securities Inc. acted as the lead underwriter in connection with the offering, with CIBC World Markets Inc., UBS Securities Canada Inc., Merrill Lynch Canada Inc., BMO Nesbitt Burns Inc., Canaccord Capital Corporation, Scotia Capital Inc., Orion Securities Inc., and Paradigm Capital Inc., comprising the remainder of the syndicate. Skye Resources is an international mining company focused on becoming a new mid-tier nickel producer. Skye Resources was advised in this transaction by a team from Fasken Martineau that included Michael Bourassa, John Turner, Nancy Eastman, Brad Freelan and Jeff Hergott (securities/mining).

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