lots of cash now - go for gold...

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Rubicon Minerals arranges $40-million financing

2009-02-13 08:43 ET - News Release

Mr. David Adamson reports

RUBICON ANNOUNCES $40 MILLION FINANCING

Rubicon Minerals Corp. has entered into an agreement with GMP Securities LP and a syndicate of underwriters including Macquarie Capital Markets Canada Ltd., TD Securities Inc., Research Capital Corp., BMO Capital Markets, Genuity Capital Markets, Thomas Weisel Partners Canada Inc. and Dundee Securities Corp. whereby the underwriters have agreed to purchase, on an

underwritten bought deal basis, 25 million common shares at a price of $1.60 per common share for proceeds of $40-million.

The company expects to close the offering on or about March 5, 2009, subject to regulatory approval. The common shares issued will be subject to a hold period of four months and one day following closing of the offering.

The proceeds received by the company from the sale of the common shares shall be used for general, administrative and working capital purposes.

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