Finanzierungsrunde
Brigus Gold Announces a US$50 Million Bought Deal of
Senior Unsecured Convertible Debentures
Not for distribution to U.S. news wire services or dissemination in the United States.
Halifax, Nova Scotia; March 3, 2011 –Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE
Amex: BRD; TSX: BRD) has entered into an agreement with a syndicate of underwriters for a bought
deal financing for US$50 million principal amount of senior unsecured convertible debentures (the
“Convertible Debentures”) by way of short-form prospectus in all provinces and territories of
Canada, excluding Quebec. The syndicate is led by BMO Capital Markets and i ncludes Haywood
Securities Inc., CIBC World Markets Inc., Cormark Securities Inc. and Paradigm Capital Inc.
Highlights
· Interest rate of 6.5% per year, payable semi-annually in arrears on the last day of March and
September
· Maturity date: March 31, 2016 (five years)
· Redemption right after 3 years
· Conversion price of US$2.45 per Brigus common share, representing approximately a 35%
premium to the last trade of US$1.83 on March 3, 2011
· Issue price of US$1,000 per Convertible Debenture and will be listed for trading on the
Toronto Stock Exchange.
The net proceeds will be used to completely repay the existing project debt facility of US$22 million
held by RMB Australia Holdings Limited with the balance used to accelerate exploration drilling at
the Company’s Black Fox Complex and Goldfields Project to undertake an engineering study on the
expansion of the Black Fox Mill, to pursue other growth opportunities and for general working capital purposes.
Brigus Chief Executive Officer and President Wade K. Dawe said, “We are pleased to announce this
bought deal financing which enables our Company to further strengthen the balance sheet while
providing financial flexibility for growth. At the Black Fox Complex, we are nearing completion of
the new portal and ramp for our underground mine to begin producing ore at more than 250 tonnes
per day by the end of the month. The commissioning of the underground mine will augment open pit
production for increasing gold production quarter over quarter through the remainder of 2011.”
The financing is expected to close on or about March 23, 2011, subject to certain conditions,
including regulatory approval and approval of the NYSE Amex Exchange and the Toronto Stock
Exchange. The Convertible Debentures will be direct, senior unsecured obligations of the Company. The Convertible Debentures will be convertible, at the option of the holder, into common shares of
Brigus at a conversion rate of 408.1633 common shares per US$1,000 principal amount of
Convertible Debentures, which is equal to a conversion price of US$2.45 per common share.
The Debentures will become redeemable at the option of the Company from March 31, 2014.
Subsequent to March 31, 2014, and prior to the Maturity Date, the Debentures may be redeemed in
whole or in part from time to time at the option of the Company on not more than 60 days and not
less than 30 days prior notice, at a price equal to their principal amount plus accrued and unpaid
interest, provided that the weighted average trading price of the common shares on The Toronto
Stock Exchange for the 20 consecutive trading days ending five trading days preceding the date on
which the notice of redemption is given is at least 125% of the Conversion Price.
This press release shall not constitute an offer to sell or solicitation of an offer to buy the Convertible
Debentures in any jurisdiction. The Convertible Debentures will not be and have not been registered
under the United States Securities Act of 1933 and may not be offered or sold in the United States
absent registration or applicable exemption from the registration requirements.