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Client Work

Migao completes US$28.7 million bought deal financing

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Confidential Client

On March 13, 2008, Migao Corporation, a China-based specialty potash fertilizer producer, announced the successful closing of its previously announced bought deal prospectus financing with a syndicate of underwriters co-led by CIBC World Markets Inc. and Canaccord Adams Inc., including GMP Securities L.P., Jennings Capital Inc., Clarus Securities Inc., and Research Capital Corporation. An aggregate of 3,593,750 common shares of Migao were issued at a price of $8.00 per common share for aggregate gross proceeds of $28,750,000 including the underwriters' fully exercised over-allotment option to purchase an additional 468,750 common shares. The underwriters were represented by Fasken Martineau with a team that included Rubin Rapuch and John Sabetti (corporate/securities) in Toronto and Edmond Luke (corporate/Asia Pacific) in Vancouver.



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