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Message: Announces Bought Deal Financing
| April 3, 2009 |
| Lundin Mining Announces Bought Deal Financing |
| TORONTO, ONTARIO--(Marketwire - April 3, 2009) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Lundin Mining Corporation ("Lundin") (TSX:LUN)(OMX:LUMI) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. and including BMO Capital Markets, Scotia Capital Inc., Canaccord Capital Corporation, Cormark Securities Inc., Dundee Securities Corp., Haywood Securities Inc. and Macquarie Capital Markets Canada Ltd. (the "Underwriters") which have agreed to purchase, on a bought deal basis, 80 million common shares of Lundin at a price of $2.05 per share, for aggregate gross proceeds of $164 million. The Underwriters will also have the option, exercisable in whole or in part at any time up to 30 days after the closing of the offering, to purchase up to an additional 12 million common shares to cover over-allotments, if any, and for market stabilization purposes. In the event that the option is exercised in its entirety, the aggregate gross proceeds of the offering will be approximately $188.6 million. Lundin plans to use the net proceeds from the offering for working capital and general corporate purposes. The common shares will be offered by way of a short form prospectus to be filed in all of the provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 Short Form Prospectus Distributions and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended. The offering is scheduled to close on or about April 27, 2009 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities. This press release is not an offer of common shares for sale in the United States. The common shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. About Lundin Mining Corporation Lundin Mining Corporation is a diversified base metals mining company with operations in Portugal, Spain and Sweden, producing copper, nickel, lead and zinc. In addition, Lundin Mining holds a development project pipeline which includes the world class Tenke Fungurume copper/cobalt project in the Democratic Republic of Congo and holds an extensive exploration portfolio and interests in international mining and exploration ventures. On behalf of the Board, Phil Wright, President and CEO |
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