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Kimber Resources Inc. (NYSE AMEX:KBX, TSX:KBR) ("Kimber"
or the "Company") announced today that it has filed a short
form preliminary prospectus with the securities regulatory authorities in
each of the provinces of British Columbia, Alberta and Ontario
in connection with an overnight-marketed public offering (the "Offering")
of units (the "Units"), each Unit to consist of one common
share of the Company and one-half of one common share purchase warrant.
Each whole warrant (a "Warrant") will entitle the holder to
purchase one common share of the Company for a period of two years
following the closing of the Offering.
The Offering will be conducted through a
syndicate of underwriters (the "Underwriters"). In
addition, the Company will grant to the Underwriters an over-allotment option
to purchase up to that number of additional Units equal to 15% of the number
of Units to be sold pursuant to the Offering, exercisable at any time up to
48 hours prior to the closing of the Offering.
The Offering will be priced in the
context of the market with the final terms of the Offering to be determined
at the time of pricing. The Company intends to use the net proceeds of
the Offering for exploration and development of the Monterde
property, including further drilling and the completion of a Pre-feasibility
study, and for working capital.
The Units will be sold publicly in British Columbia, Alberta
and Ontario and in other jurisdictions on a
private placement basis where permitted by applicable law. Closing of
this Offering is expected to occur on or about December
23, 2010 and is subject to receipt of all necessary regulatory
approvals, including the approval of the Toronto Stock Exchange and the NYSE
Amex.
The Units, common shares and Warrants
offered have not been registered under the U.S. Securities Act of 1933, as
amended, (the "U.S. Securities Act"), or any applicable state
securities laws of the United States and may
not be offered or sold in the United States or
to, or for the account or benefit of "U.S. persons" (as defined in
Regulation S of the U.S. Securities Act) absent such registration or an
applicable exemption from such registration requirements. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
About Kimber
Kimber owns mineral concessions covering in
excess of 39,000 hectares in the prospective Sierra
Madre gold-silver belt, including the Monterde
property, where three gold-silver mineral resources have already been
defined. The most advanced of these, the Carmen deposit, has been extensively
drilled and has undergone detailed geologic modeling. The recent completion
of the Preliminary Assessment for Monterde
represents a significant step forward for Kimber
and is expected to lead to further development and more advanced economic
studies at the Monterde deposits.
Forward looking statements
Statements in this release may be viewed
as forward-looking statements under United States
and Canadian securities laws, including statements regarding the anticipated
pricing and closing of the Offering, estimates of mineral resources at Monterde, the Preliminary Assessment of the Monterde project, the further development, expected
results and future economic assessments of the Monterde
project. When used in this press release, the words "expect",
"expected", "lead", "intend",
"hopes", "believe", "may", "will",
"if", "anticipates" and similar expressions are intended
to identify forward-looking statements. Such statements involve risks and
uncertainties that could cause actual results to differ materially from those
projected. Such risks and uncertainties include, among others, uncertainty of
pricing and closing of the Offering, mineral reserve and resource estimates,
risks relating to fluctuations in the price of gold, the inherently hazardous
nature of mining-related activities, potential effects on Kimber's
operations of environmental regulations in the countries in which it
operates, risks due to legal proceedings, risks relating to political and
economic instability in certain countries in which it operates, and risks
related to the use of inferred mineral resources in the Preliminary
Assessment, as well as those risk factors discussed under the headings
"Cautionary Note Regarding Forward-Looking Statements" and
"Risk Factors" in Kimber's latest Annual
Report on Form 20-F as filed on SEDAR and EDGAR. There are no
assurances the Company can fulfil such
forward-looking statements and the Company undertakes no obligation to update
such statements, except as required by law. Such forward-looking statements
are only predictions; actual events or results may differ materially as a
result of risks facing the Company, some of which are beyond the Company's control.
Cautionary Note to U.S. Investors - The
United States Securities and Exchange Commission permits U.S. mining
companies, in their filings with the SEC, to disclose only those mineral
deposits that a company can economically and legally extract or produce.
Kimber uses certain terms on its website (and
certain press releases), such as "measured," "indicated,"
and "inferred," "resources," which the SEC guidelines
strictly prohibit U.S. companies from including in their filings with the
SEC. U.S. Investors are urged to consider closely the disclosure under
the heading "Cautionary Note to U.S. Investors Regarding Mineral Reserve
and Resource Estimates" in our latest annual report on Form 20-F which
may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml.
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