* To sell 10 mln shrs on bought-deal basis at C$5.75/shr
* Proceeds to be used for Serra Pelada project in Brazil
Sept 30 (Reuters) - Colossus Minerals Inc said it would raise C$57.5 million through the sale of common shares to fund its Serra Pelada project in Brazil.
Colossus said a syndicate of underwriters, led by Macquarie Capital Markets Canada, have agreed to buy 10 million common shares of the company at C$5.75 each, a discount of 2.4 percent to Wednesday's close.
The other underwriters in the syndicate include Thomas Weisel Partners Canada Inc, Canaccord Capital Corp, and GMP Securities L.P, the company said in a statement.
The company has also agreed to grant the underwriters an over-allotment option to purchase up to an additional 1.5 million common shares.
If the underwriters exercise this option, the gross proceeds of the offering, which is expected to close on or about Oct 22, will be C$66.1 million, the company said.
Shares of Colossus Minerals closed at C$5.89 Wednesday on the Toronto Stock Exchange.
(Reporting by R. Manikandan in Bangalore; Editing by Hezron Selvi) Keywords: COLOSSUSMINERALS/ (r.manikandan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: raman.manikandan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Proceeds to be used for Serra Pelada project in Brazil
Sept 30 (Reuters) - Colossus Minerals Inc said it would raise C$57.5 million through the sale of common shares to fund its Serra Pelada project in Brazil.
Colossus said a syndicate of underwriters, led by Macquarie Capital Markets Canada, have agreed to buy 10 million common shares of the company at C$5.75 each, a discount of 2.4 percent to Wednesday's close.
The other underwriters in the syndicate include Thomas Weisel Partners Canada Inc, Canaccord Capital Corp, and GMP Securities L.P, the company said in a statement.
The company has also agreed to grant the underwriters an over-allotment option to purchase up to an additional 1.5 million common shares.
If the underwriters exercise this option, the gross proceeds of the offering, which is expected to close on or about Oct 22, will be C$66.1 million, the company said.
Shares of Colossus Minerals closed at C$5.89 Wednesday on the Toronto Stock Exchange.
(Reporting by R. Manikandan in Bangalore; Editing by Hezron Selvi) Keywords: COLOSSUSMINERALS/ (r.manikandan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: raman.manikandan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
