Augusta Resource closes US$29 million bought deal financing

On August 19, 2009, Augusta Resource Corporation (TSX:AZC)(NYSE Amex:AZC) announced that it had closed the $25 million bought deal financing, announced July 27, 2009, plus a 15% over-allotment option exercised in full, for gross proceeds of $28,758,740. The offering was conducted by a syndicate of underwriters led by Wellington West Capital Markets Inc. and including Cormark Securities Inc., CIBC World Markets Inc. and TD Securities Inc. for the issuance of 12,380,000 common shares plus 1,857,000 common shares pursuant to the over-allotment option at a price of $2.02 per common share. The net proceeds of the offering will be used to advance the development of the Rosemont Copper property located in Pima County, Arizona and for general working capital purposes. Augusta was advised in this transaction by a team from Fasken Martineau that included Georald Ingborg, Lindy Bremner, Amanda MacAdams and Caroline Clapham.