Loncor Announces Cdn$14 Million Equity Financings
20 Setembro 2012 - 11:06AM
Marketwired
Loncor Resources Inc. (the "Company" or "Loncor") (TSX
VENTURE:LN)(NYSE MKT:LON)(NYSE Amex:LON) announces that in
connection with its previously announced marketed public offering
on September 19, 2012 (the "Offering"), it has entered into an
underwriting agreement with a syndicate of investment dealers (the
"Underwriters") to sell 8,600,000 common shares of the Company at a
price of Cdn$1.05 per common share for aggregate gross proceeds of
Cdn$9,030,000.
Loncor has granted the Underwriters an over-allotment option to
purchase a number of additional common shares of the Company equal
to up to 7.5% of the aggregate number of common shares sold in the
Offering to cover over-allotments and for market stabilization
purposes, exercisable at any time up to 30 days after the closing
of the Offering.
The Company will file an amended and restated preliminary short
form prospectus today, which is still subject to completion or
amendment. A copy of the amended and restated preliminary short
form prospectus will be available electronically at www.sedar.com
once filed. There will not be any sale of or any acceptance of an
offer to buy the securities until a receipt for the (final)
prospectus has been issued.
Newmont Mining Corporation ("Newmont") will also complete a
non-brokered private placement of 4,760,000 common shares of the
Company at the Offering price for aggregate gross proceeds of
Cdn$4,998,000, concurrent with and subject to completion of the
Offering. Newmont (through an affiliate) currently holds 9,700,000
(representing 16.35%) of the outstanding common shares of the
Company and 1,000,000 common share purchase warrants of the
Company, with each such warrant entitling the holder to purchase
one common share of the Company at a price of Cdn$2.30 until
December 2012. Upon the completion of the private placement,
Newmont's equity interest in the Company will increase to 19.99% on
a fully-diluted basis (after giving effect to the completion of the
Offering).
Pursuant to the two financings, the Company will raise total
gross proceeds of approximately Cdn$14,028,000.
Loncor intends to use the proceeds from the financings for the
exploration and development of the Company's mineral properties in
the Democratic Republic of the Congo and for working capital and
general corporate purposes.
Closing of the financings is subject to, among other things,
receipt of all necessary regulatory approvals, including the
approval of the TSX Venture Exchange and the NYSE MKT LLC.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended, (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States unless registered under
the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
Loncor is a Canadian gold exploration company focused on two key
projects in the Democratic Republic of the Congo (the "DRC") - the
Ngayu and North Kivu projects. The Company has exclusive gold
rights to an area covering 2,087 sq km covering part of the Ngayu
Archaean greenstone belt in Orientale province in the northeast
portion of the DRC. Loncor also owns or controls 55 exploration
permits in North Kivu province, covering 17,760 square kilometres,
located west of the city of Butembo. Both areas have historic gold
production. Led by a team of senior exploration professionals with
extensive African experience, Loncor's strategy includes an
aggressive drilling program to follow up on initial known targets
as well as covering the entire greenstone belt with regional
geochemical and geophysical surveys. Additional information with
respect to the Company's projects can be found on the Company's web
site at www.loncor.com.
Forward-Looking Information: Statements in this press release
relating to the proposed financings and the Company's exploration
and development plans are forward-looking information within the
meaning of applicable Canadian securities laws. Forward-looking
information is subject to a number of risks and uncertainties that
may cause the actual results of the Company to differ materially
from those discussed in the forward-looking information, and even
if such actual results are realized or substantially realized,
there can be no assurance that they will have the expected
consequences to, or effects on the Company. Factors that could
cause actual results or events to differ materially from current
expectations include, among other things, failure to enter into
definitive documentation in respect of, or complete, one or both of
the proposed financings, the need to satisfy regulatory and legal
requirements with respect to both financings, risks related to the
exploration stage of the Company's properties, market fluctuations
in prices for securities of exploration stage companies, the
location of the Company's properties in the DRC, uncertainties
relating to the availability and costs of financing needed in the
future, the possibility that future exploration or development
results will not be consistent with the Company's expectations,
failure to establish estimated mineral resources (the Company's
mineral resource figures are estimates and no assurance can be
given that the indicated levels of gold will be produced),
uncertainties related to fluctuations in commodity prices and
equity markets and the other risks disclosed under the heading
"Risk Factors" and elsewhere in the Company's annual report on Form
20-F dated March 30, 2012 filed on SEDAR at www.sedar.com and EDGAR
at www.sec.gov. Forward-looking information speaks only as of the
date on which it is provided and, except as may be required by
applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking information, whether as a
result of new information, future events or results or otherwise.
Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Loncor Resources Inc. Peter N. Cowley President and
Chief Executive Officer + 44 (0) 790 454 0856 Loncor Resources Inc.
Arnold T. Kondrat Executive Vice President + 44 (0) 790 454 0856
Loncor Resources Inc. Naomi Nemeth Investor Relations (416)
366-9189 or 1 (800) 714-7938 www.loncor.com
Loncor Gold (QX) (USOTC:LONCF)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Loncor Gold (QX) (USOTC:LONCF)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024