TORONTO, Nov. 30, 2011 /PRNewswire/ - Franco-Nevada Corporation (the "Company") (NYSE:FNV) (TSX: FNV) announced today the closing of its previously announced public offering (the "Offering") of 9,200,000 common shares ("Offered Shares"), including the full exercise of the over-allotment option, at a price of C$42.50 per Offered Share for aggregate gross proceeds to the Company of C$391,000,000.
The Offered Shares were sold on a bought-deal basis through a syndicate of underwriters led by BMO Capital Markets and included CIBC World Markets Inc., RBC Dominion Securities Inc., UBS Securities Canada Inc., GMP Securities L.P., Merrill Lynch Canada Inc., TD Securities Inc., Credit Suisse Securities (Canada), Inc., National Bank Financial Inc., Scotia Capital Inc., and Pollitt & Co. Inc.
The Company intends to use the net proceeds from the Offering for acquisitions, working capital and general corporate purposes.
Corporate Summary
Franco-Nevada Corporation (NYSE: FNV) (TSX: FNV) is a gold-focused royalty and stream company with additional interests in platinum group metals, oil & gas and other assets. The Company has a diversified portfolio of high margin assets along with a growing pipeline of development assets with exposure to some of the largest gold discoveries in the world. Its business model benefits from rising commodity prices and new discoveries while limiting operating and capital cost inflation. Franco-Nevada has declared growing free cash flow and dividends. It is the gold investment that works.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This press release may contain certain information that may constitute
"forward-looking information" and "forward-looking statements" within
the meaning of applicable Canadian securities laws and United StatesPrivate Securities Litigation Reform Act 1995, respectively.
Forward-looking statements may include, but are not limited to,
statements with respect to future events or future performance,
management's expectations regarding Franco-Nevada's growth, results of
operations, estimated future revenues, requirements for additional
capital, future demand for and prices of commodities, expected mining
sequences, business prospects and opportunities. Such forward-looking
statements reflect management's current beliefs and are based on
information currently available to management. Often, but not always,
forward-looking statements can be identified by the use of words such
as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "predicts", "projects", "intends", "targets",
"aims", "anticipates" or "believes" or variations (including negative
variations) of such words and phrases or may be identified by
statements to the effect that certain actions "may", "could", "should",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual results,
performance or achievements of Franco-Nevada to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. A number of factors could
cause actual events or results to differ materially from any
forward-looking statement, including, without limitation: fluctuations
in the prices of the primary commodities that drive the Franco-Nevada's
royalty and stream revenue (gold, platinum group metals, copper,
nickel, uranium, silver and oil and gas); fluctuations in the value of
the Canadian and Australian dollar, Mexican peso, and any other
currency in which Franco-Nevada generates revenue, relative to the U.S.
dollar; changes in national and local government legislation, including
permitting and licensing regimes and taxation policies; regulations and
political or economic developments in any of the countries where
properties in which Franco-Nevada holds a royalty, stream or other
interest are located; influence of macro-economic developments;
business opportunities that become available to, or are pursued by
Franco-Nevada; reduced access to debt and equity capital; litigation;
title, permit or license disputes related to Franco-Nevada's interests
or any of the properties in which Franco-Nevada holds a royalty, stream
or other interest; excessive cost escalation as well as development,
permitting, infrastructure, operating or technical difficulties on any
of the properties in which Franco-Nevada holds a royalty, stream or
other interest; rate and timing of production differences from resource
estimates; risks and hazards associated with the business of
development and mining on any of the properties in which Franco-Nevada
holds a royalty, stream or other interest, including, but not limited
to unusual or unexpected geological and metallurgical conditions, slope
failures or cave-ins, flooding and other natural disasters or civil
unrest; and the integration of acquired assets. The forward-looking
statements contained in this press release are based upon assumptions
management believes to be reasonable, including, without limitation:
the ongoing operation of the properties in which Franco-Nevada holds a
royalty, stream or other interest by the owners or operators of such
properties in a manner consistent with past practice; the accuracy of
public statements and disclosures made by the owners or operators of
such underlying properties; no material adverse change in the market
price of the commodities that underlie the asset portfolio; no adverse
development in respect of any significant property in which
Franco-Nevada holds a royalty, stream or other interest; the accuracy
of publicly disclosed expectations for the development of the
underlying properties that are not yet in production; integration of
acquired assets; and the absence of any other factors that could cause
actions, events or results to differ from those anticipated, estimated
or intended. However, there can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Readers are cautioned that forward-looking statements are
not guarantees of future performance. Franco-Nevada cannot assure
readers that actual results will be consistent with these
forward-looking statements. Accordingly, readers should not place undue
reliance on forward-looking statements due to the inherent uncertainty
therein. For additional information with respect to risks,
uncertainties and assumptions, please also refer to the "Risk Factors"
section of our most recent Annual Information Form filed with the
Canadian securities regulatory authorities on SEDAR at www.sedar.com, our most recent Form 40-F filed with the Securities and Exchange
Commission on EDGAR at www.sec.gov, as well as our most recent annual and interim MD&As. The
forward-looking statements herein are made as of the date of this press
release only and Franco-Nevada does not assume any obligation to update
or revise them to reflect new information, estimates or opinions,
future events or results or otherwise, except as required by applicable
law.
SOURCE Franco-Nevada Corporation
