Source: MAG Silver Corp.
  • MAG Silver Corp. (MAG) has completed its bought-deal public offering for gross proceeds of US$42,558,250
  • The company issued 2,905,000 common shares at a price of US$14.65 per common share
  • MAG plans to use the net proceeds of the offering to fund the exploration of Juanicipio and MAG’s other projects
  • MAG Silver Corp. is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company
  • MAG Silver Corp. opened trading at C$17.94

MAG Silver Corp. (MAG) has completed its bought-deal public offering for gross proceeds of US$42,558,250.

The company issued 2,905,000 common shares at a price of US$14.65 per common share. The offering included 170,000 common shares issued upon the partial exercise of the over-allotment option.

MAG plans to use the net proceeds of the offering to fund exploration on Juanicipio and MAG’s other projects, including Deer Trail, certain sustaining capital requirements at the Juanicipio Project not included in the initial project capital estimates, and for working capital and general corporate purposes.

The offering was led by BMO Capital Markets and Raymond James Ltd. as the joint bookrunners, together with a syndicate of underwriters consisting of Canaccord Genuity Corp., H.C. Wainwright & Co., LLC, National Bank Financial Inc., Roth Canada Inc., TD Securities Inc. and Scotia Capital Inc.

The common shares were offered by way of a short form prospectus in all provinces and territories of Canada, other than Québec, and in the United States in line with a prospectus filed as part of an effective registration statement on Form F-10 (File No. 333-269411) under the Canada/U.S. multi-jurisdictional disclosure system.

MAG Silver Corp. is a Canadian development and exploration company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, precious metals projects in the Americas.

Its principal focus and asset is the Juanicipio Project (44 per cent), being developed with Fresnillo Plc (56 per cent), the operator in Mexico.

MAG Silver Corp. opened trading at C$17.94.


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