Canadian gold miner Centerra Gold has closed its previously announced C$195-million bought deal offering of subscription receipts, the net proceeds of which will be used to partially fund the redemption of the secured and unsecured notes of the Thompson Creek Metals Company, in connection with Centerra’s acquisition of Thompson Creek’s issued and outstanding common shares. On completion of the transaction, existing Centerra and Thompson Creek shareholders are expected to own about 92% and 8% of the pro forma company, respectively, on a fully diluted in-the-money basis. The company expects the transaction to close by the end of the third quarter.
