Pretivm Closes Non-Brokered Private Placement
posted on
Sep 06, 2013 09:34AM
Value Through Gold
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 6, 2013) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES
Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to announce that it has closed its private placement with Liberty Metals & Mining Holdings, LLC ("LMM"), a subsidiary of Boston-based Liberty Mutual Insurance, of 1,069,518 common shares of Pretivm (the "Purchased Shares") at a price per share of C$9.35 for gross proceeds of approximately C$10 million (the "Offering").
Pretivm intends to use the proceeds of the Offering to advance the Brucejack Project, including ongoing permitting and engineering activities.
LMM is not permitted to trade the Purchased Shares for a period of four months plus one day from the closing of the Offering. The Purchased Shares described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements of such Act.
About Pretivm
Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource, with Probable Mineral Reserves in the Valley of the Kings totalling 6.6 million ounces of gold (15.1 million tonnes grading 13.6 grams of gold per tonne). Brucejack is being advanced as a high-grade underground mine with an average of 425,700 ounces of gold produced annually for the first 10 years and an average of 321,500 ounces of gold produced annually over the Project's 22-year mine life. Commercial production is targeted to commence in 2016.
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact Information:
Pretium Resources Inc.
Robert Quartermain
President and Chief Executive Officer
(604) 558-1784
Pretium Resources Inc.
Michelle Romero
Vice President, Corporate Relations
(604) 558-1784
Pretium Resources Inc.
570 Granville Street, Suite 1600
Vancouver, BC V6C 3P1
invest@pretivm.com
http://www.pretivm.com/">www.pretivm.com