The TSX has neither approved nor disapproved of the information contained herein.
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 24, 2013) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES
Pretium Resources Inc. (News - Market indicators)(NYSE:PVG) ("Pretivm" or the "Company") is pleased to announce that it has entered into a bought deal agreement with a syndicate of underwriters led by CIBC (the "Underwriters"), to issue by way of private placement 361,300 ITC flow-through common shares ("ITC Flow-Through Shares") of Pretivm at a price of $13.84 per share and 1,206,800 CEE flow-through common shares ("CEE Flow-Through Shares") of Pretivm at a price of $12.43 per share for aggregate gross proceeds of $20 million (the "Offering"). The Offering is scheduled to close on or about February 15, 2013, subject to regulatory approvals.
The gross proceeds of the Offering will be used to advance exploration activities at the Brucejack Project in support of the 10,000-tonne bulk sample from the Valley of the Kings scheduled to begin in the second quarter.
The Underwriters have been granted an option to purchase, or arrange for substituted purchasers for, up to an additional 402,100 CEE Flow-Through Shares at the issue price at any point up until 48 hours prior to closing of the Offering.
The CEE Flow-Through Shares and ITC Flow-Through Shares (together, the "Flow-Through Shares") will be offered to accredited investors in all Provinces of Canada pursuant to applicable securities laws. Subscribers under the Offering will not be permitted to trade the Flow-Through Shares for a period of four months plus one day from the closing of the offering. The Flow-Through Shares offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of such Act.
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack's Valley of the Kings is underway and expected in the second quarter.
(SEDAR filings: Pretium Resources Inc.)
Forward Looking Statement
This News Release contains "forward-looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to satisfying conditions of the Offering, our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of Pretivm's Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm's executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm's prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States through EDGAR at the SEC's website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.