Yamana Gold closes $80M Secondary sale of Brio Gold shares




pcNewsWireBrio Gold Inc. (TSX: BRIO) has closed previously announced bought deal secondary offering by Yamana Gold Inc. (TSX: YRI; NYSE: AUY) of 26,667,000 common shares at $3.00 per share for gross proceeds of C$80,001,000.

The offering was conducted by syndicate of underwriters, led by Canaccord Genuity Corp., CIBC World Markets Inc. and National Bank Financial Inc.

Following closing of the offering, Yamana Gold has beneficial ownership and control over 62,535,922 Shares, representing approximately 55.6% of the outstanding Shares.

News Release

BRIO GOLD ANNOUNCES COMPLETION OF C$80,001,000 SECONDARY OFFERING

TORONTO, ONTARIO, June 2, 2017 — BRIO GOLD INC. (“BRIO GOLD” or the “Company”) is pleased to announce the successful closing of the previously announced secondary offering (the “Offering”) of common shares of the Company (the “Shares”) at a price of C$3.00 per Share. Yamana Gold Inc. (the “Selling Shareholder”) sold an aggregate of 26,667,000 Shares for total gross proceeds of C$80,001,000 to a syndicate of underwriters, led by Canaccord Genuity Corp., CIBC World Markets Inc. and National Bank Financial Inc., on a bought deal basis. The Company did not receive any proceeds from the Offering.

Following closing of the Offering, the Selling Shareholder has beneficial ownership and control over 62,535,922 Shares, representing approximately 55.6% of the outstanding Shares.

This press release is not an offer of securities for sale in the United States. The Shares being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Act”) and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account, or for the benefit, of a U.S. person, unless registered under that Act or pursuant to an exemption from the registration requirements of that Act.

About Brio Gold

Brio Gold is a new Canadian mining company with significant gold producing, development and exploration stage properties in Brazil. Brio Gold’s portfolio includes three operating mines and a gold project, which is a fully-permitted, fully-constructed mine that is currently on care and maintenance and is expected to be re-started in 2018. Brio Gold produced 189,662 ounces of gold in 2016 and at full annual run-rate expects annual production to be approximately 400,000 ounces of gold.

FOR FURTHER INFORMATION PLEASE CONTACT:

Letitia Wong
Vice President, Corporate Development
Telephone: +1 (416) 860-6310
Email: Letitia.wong@briogoldinc.com

SOURCE: Brio Gold Inc.