Welcome To the Magma Metals Limited HUB On AGORACOM
Exploration, discovery and development of precious and base metals mineral deposits in Australia and Canada (V.MMW)
Message: MMW announces completion of its equity financing and private placement
December 18, 2009 Announcement ASX, TSX: MMW MAGMA METALS ANNOUNCES CLOSING OF C$11.655 MILLION EQUITY FINANCING AND C$1.575 MILLION PRIVATE PLACEMENT NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES West Perth, Western Australia (TSX and ASX symbol: “MMW”) (“Magma Metals” or
the “Company”) announced today that it has completed its previously announced equity financing issuing 18,500,000 Ordinary Shares (the “Shares”) at a price of C$0.63 per Share for gross proceeds of C$11,655,000 (the “Offering”). The Offering was conducted through a syndicate of underwriters led by CIBC, and including Cormark Securities Inc., GMP Securities L.P. and Dundee Securities Corporation. Additionally, Anglo American Investments (Australia) Limited (“Anglo”) has subscribed for 2.5 million shares on a private placement basis at the same price as the Offering (the “Private Placement”). The gross proceeds from the Offering and the Private Placement are $13,230,000. The Shares of Magma Metals were sold under the Offering by way of a short form prospectus in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Nova Scotia and New Brunswick. All shares issued pursuant to the Offering and the Private Placement were made using Magma’s 15% placement capacity under ASX listing rule 7.1. Magma intends to use the net proceeds of the Offering to continue exploration and development activities at the Company’s Thunder Bay North property and for general corporate purposes. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or any other jurisdiction outside of Canada, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Shares offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act and applicable state securities laws. For further information please contact: Magma Metals Limited Keith Watkins Executive Chairman +61 (0)8 9324 1500 Email: keith.watkins@magmametals.com.au Cautionary
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