First Quantum Minerals Announces Common Share Offering
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
VANCOUVER, BRITISH COLUMBIA (March 23, 2009) - First Quantum Minerals Ltd. ("First Quantum" or the "Company") (TSX:FM)(LSE:FQM) announced today that it has filed a preliminary short form prospectus in Canada in connection with an overnight-marketed public offering of common shares to raise approximately Cdn$300 million (the "Offering"). The Offering will be conducted through a syndicate of underwriters led by Morgan Stanley and RBC Capital Markets (collectively, the "Underwriters"). In addition, the Company has agreed to grant the Underwriters an over-allotment option to purchase that number of additional common shares of First Quantum equal to 15% of the common shares sold pursuant to the Offering, exercisable at any time, in whole or in part, up to 30 days from the closing of the Offering (the "Over-Allotment Option"). If the Over-Allotment Option is exercised in full, the total gross proceeds to First Quantum will be approximately Cdn$345 million.
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 to continue with its committed capital projects, to further strengthen its capital position and for general corporate purposes.
The common shares will be sold publicly in all provinces of Canada and on a private placement basis in the United States pursuant to exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended, and internationally pursuant to available exemptions. Closing of this offering is expected to occur on or about April 6, 2009 and is subject to receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange.
This news release is not an offer of securities for sale in the United States. The securities described above have not been and will not be registered under the U.S. Securities Act of 1933, and may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, or an applicable exemption from the registration requirements thereof.
On Behalf of the Board of Directors of First Quantum Minerals Ltd.
G. Clive Newall, President
12g3-2b-82-4461
Listed in Standard and Poor's
A preliminary short form prospectus containing important information relating to the Shares being distributed under the offering has been filed with the securities regulatory authorities in each of the Provinces of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from Morgan Stanley & Co. Incorporated and RBC Dominion Securities Inc. There will not be any sale or any acceptance of an offer to buy the Shares being distributed under the Offering until a receipt for the final short form prospectus has been issued.
Certain information contained in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information under applicable Canadian securities legislation. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements include comments regarding the completion and terms of the proposed Offering and the use of proceeds therefrom. Factors that could cause actual results to differ materially include: the ability to settle the terms of the Offering and to satisfy conditions of the Offering; the failure to receive regulatory approvals with respect to the Offering; cha nges in the prices of gold and/or copper; and changes in Canadian, U.S. and United Kingdom securities markets. In addition, specific reference is made to "Caution With Respect to Forward-Looking Statements and Information" and "Risk Factors" in the Company's Annual Information Form dated March 6, 2009. There can be no assurance that future developments affecting the Company will be those anticipated by management. While the Company may elect to update the forward-looking statements at any time, the Company does not undertake to update them at any particular time or in response to any particular event. Investors and others should not assume that any forward-looking statement in this press release represent management's estimate as of any date other than the date of this press release.
CONTACT INFORMATION:
First Quantum Minerals Ltd. - North American contact
Sharon Loung
(604) 688-6577 or Toll Free: 1-888-688-6577
Fax: (604) 688-3818
sharon.loung@fqml.com
or
First Quantum Minerals Ltd. - United Kingdom contact
Clive Newall
President
+44 140 327 3484
Fax: +44 140 327 3494
clive.newall@fqml.com
www.first-quantum.com
or
Hogarth Partnership Ltd.
Simon Hockridge
+44 (0) 20 7357 9477
Renmark Financial Communications Inc.
Henri Perron: hperron@renmarkfinancial.com
Christine Stewart: cstewart@renmarkfinancial.com
Montreal - Tel.: 514-939-3989 / Fax: 514-939-3717
Toronto - Tel.: 416-644-2020 / Fax: 416-644-2021
www.renmarkfinancial.com
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First Quantum Minerals Ltd.
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PRODUCER |
CODE : FM.TO |
ISIN : CA3359341052 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
First Quantum is a copper producing company based in Canada. First Quantum produces copper, cobalt and gold in Congo Dem. Rep. of, in Mauritania and in Zambia, develops cobalt, copper and nickel in Congo Dem. Rep. of and in Zambia, and holds various exploration projects in Congo Dem. Rep. of and in Peru. Its main assets in production are BWANA MKUBWA, KANSANSHI and MOPANI in Zambia, FRONTIER and KOLWEZI in Congo Dem. Rep. of and GUELB MOGHREIN in Mauritania, its main assets in development are KOLWESI MUSONOI in Congo Dem. Rep. of and KALUMBILA in Zambia and its main exploration properties are KEVITSA and KEVISTA in Finland, HAQUIRA EAST and CRISTO DE LOS ANDES in Peru and KIPUSHI in Congo Dem. Rep. of. First Quantum is listed in Canada, in Germany, in United Kingdom and in United States of America. Its market capitalisation is CA$ 10.9 billions as of today (US$ 8.0 billions, € 7.4 billions). Its stock quote reached its lowest recent point on November 02, 2001 at CA$ 0.38, and its highest recent level on April 24, 2024 at CA$ 15.86. First Quantum has 689 369 984 shares outstanding. |