Inmet Mining Raises Funds to Pay for Spanish Mine

8 June 2009 (Last Updated June 8th, 2009 18:30)

Canadian metals miner Inmet Mining said it will sell 6.75 million shares to account for loses at its Las Cruces mine in Spain. The C$44.50 in shares will be sold to a syndicate of underwriters on a bought deal basis. The underwriters, led by Credit Suisse Securities and CIBC

Canadian metals miner Inmet Mining said it will sell 6.75 million shares to account for loses at its Las Cruces mine in Spain.

The C$44.50 in shares will be sold to a syndicate of underwriters on a bought deal basis.

The underwriters, led by Credit Suisse Securities and CIBC World Markets, were given an over-allotment option to purchase an additional 15% of the number of shares sold at the same price.

The offer will close on or about 25 June.