Lundin GOLD Closes $46.6 Million Bought Deal Equity Financing Including Full Exercise of over-Allotment Option
885 West Georgia Street T +1 604 689 7842
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NEWS RELEASE
LUNDIN GOLD CLOSES $46.6 MILLION BOUGHT DEAL EQUITY
FINANCING INCLUDING FULL EXERCISE OF OVER-ALLOTMENT
OPTION
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
March 1, 2019 (Vancouver, Canada) Lundin Gold Inc. (“Lundin Gold” or the “Company”)
(TSX: “LUG”, Nasdaq Stockholm: “LUG”) is pleased to report that it has closed its previously
announced bought deal equity offering (the “Offering”). A total of 8,625,000 common shares (the
“Shares”) were issued at a price of C$5.40 per S hare for gross proceeds to the C ompany of
C$46,575,000, which includes the exercise, in full, of the over-allotment option of an additional
1,125,000 Shares.
The Offering was conducted through a syndicate of underwriters co-led by GMP Securities L.P.
and BMO Capital Markets, and including CIBC Capital Markets, Scotia Capital Inc., TD Securities
Inc., Cormark Securities Inc., Echelon Wealth Partners Inc., Eight Capital and Haywood Securities
Inc.
The Offering was completed pursuant to a prospectus supplement dated February 22, 2019 (the
“Prospectus Supplement”) and a short form base shelf prospectus dated December 21, 2017 (the
“Base Shelf Prospectus”) and in the United States on a private placement basis pursuant to an
exemption from registration requirements of the Securities Act of 1933 (the “U.S. Securities Act”)
and other jurisdictions outside of Canada on an exempt basis. The Offering remains subject to
final approval from the Toronto Stock Exchange.
The Company currently intends to use the net proceeds from the Offering to fund exploration on
its extensive portfolio of mineral concessions in Ecuador and for general corporate purposes (as
more fully described in the Prospectus Supplement).
This news release does not constitute an offer to sell or a solicitation of an offer to buy the
securities described herein in the United States or in any other jurisdiction. The securities
referred to in this press release have not been and will not be re gistered under the U.S.
Securities Act and may not be offered or sold without registration under the U.S. Securities
Act and all applicable state securities laws or compliance with the requirements of an
exemption from such registration.
Additional Information
The Prospectus Supplement and Base Shelf Prospectus, and the documents incorporated by
reference therein, are available on the Company’s profile on SEDAR at www.sedar.com.
The information in this release is subject to the disclosure requirements of Lundin Gold under the
EU Market Abuse Regulation. This information was submitted for publication March 1, 2019 at
5:50 a.m. PT through the contact persons set out below.
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About Lundin Gold
Lundin Gold , headquartered in Vancouver, Canada, is developing its wholly -owned Fruta del
Norte gold project in southeast Ecuador which is currently under construction. The Company's
board and management team have extensive expertise in mine construction and operations and
are dedicated to advancing this project through to first gold production.
The Company operates with transparency and in accordance with international best practices.
Lundin Gold is committed to delivering value to its shareholders, while simultaneously p roviding
economic and social benefits to impacted communities, fostering a healthy and safe workplace
and minimizing the environmental impact.
For more information, please contact
Lundin Gold Inc.
Ron F. Hochstein
President and CEO
+593 2-299-6400
+604-806-3589
Lundin Gold Inc.
Sabina Srubiski
Manager, Investor Relations
+1-604-806-3089
www.lundingold.com
Follow Lundin Gold on Twitter
Caution Regarding Forward-Looking Information and Statements
Certain of the information and statements in this press release are considered "forward -looking
information" or "forward -looking statements" as those terms are defined under Canadian
securities laws (collectively referred to as "forward -looking statements"). Any statements that
express or involve discussions with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or performance (often, but not always,
identified by words or phrases such as "believes", "anticipates", "expects", "is expected",
"scheduled", "estimates", "pending", "intends", "plans", "forec asts", "targets", or "hopes", or
variations of such words and phrases or statements that certain actions, events or results "may",
"could", "would", "will", "should" "might", "will be taken", or "occur" and similar expressions) are
not statements of historical fact and may be forward-looking statements.
By their nature, forward-looking statements and information involve assumptions, inherent risks
and uncertainties, many of which are difficult to predict, and are usually beyond the control of
management, that could cause actual results to be materially different from those expressed by
these forward-looking statements and information. Lundin Gold believes that the expectations
reflected in this forward-looking information are reasonable, but no assurance can be given that
these expectations will prove to be correct. Forward-looking information should not be unduly
relied upon. This information speaks only as of the date of this press release, and the Company
will not necessarily update this information, unless required to do so by securities laws.
This press release contains forward -looking information in a number of places, such as in
statements pertaining to the use of proceeds from the Offering and the final approval of the
Offering from the Toronto Stock Exchange. There can be no assurance that such statements will
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prove to be accurate, as Lundin Gold's actual results and future events could differ materially from
those anticipated in this for ward-looking information as a result of the factors discussed in the
"Risk Factors" section in the Prospectus Supplement and in Lundin Gold's Management
Discussion and Analysis dated February 19, 2019, which is available under the Company's profile
at www.sedar.com.
Lundin Gold's actual results could differ materially from those anticipated. Factors that could
cause actual results to differ materially from any forward -looking statement or that could have a
material impact on the Company or the trading price of its shares, include: receipt of regulatory
approvals, risks associated with the Company's community relationships; risks and hazards
inherent in mining and processing; lack of availability of or inte rference with infrastructure; risks
related to Lundin Gold's compliance with increasingly strict environmental laws and liability for
environmental contamination; risks related political and economic instability in Ecuador; deficient
or vulnerable title to mining concessions and surface rights; risk to shareholders of dilution from
future equity financings; failure to maintain its obligations under its debt facilities; shortages of
critical resources, such as skilled labour and supplies, consumables and eq uipment; inherent
safety hazards and risk to the health and safety of the Company's employees and
contractors; volatility in the price of gold; the cost of compliance or failure to comply with
applicable laws; the timely receipt of regulatory approvals, permits and licenses; risks associated
with the performance of the Company's contractors; the imprecision of Mineral Reserve and
Mineral Resource estimates; dependence on key personnel; volatility in the market price of the
Company's shares; the potential influence of the Company's largest shareholders; uncertainty
with the tax regime in Ecuador; measures required to protect endangered species; exploration
and development risks; the Company's reliance on one project risks related to artisanal and illegal
mining; the reliance of the Company on its information systems and the risk of cyber -attacks on
those systems; the ability to obtain adequate insurance; uncertainty as to reclamation and
decommissioning; the uncertainty regarding risks posed by climate change; the ability of Lundin
Gold to ensure compliance with anti-bribery and anti- corruption laws; the potential for litigation;
and limits of disclosure and internal controls.