Augusta Closes $32.5 Million Share Offering
Published March 12th, 2010
Augusta Resource Corporation (TSX: AZC)(NYSE Amex: AZC) (“Augusta” or the “Company”) has closed the $32.5 million bought deal financing, announced February 23, 2010. The offering was conducted by a syndicate of underwriters for the issuance of 11,820,000 common shares (the “Shares”) of the Company at a price of Cdn$2.75 per Share for gross proceeds of Cdn$32,505,000.
Augusta plans to use the net proceeds of this financing to advance the development of the Rosemont Copper property located in Pima County, Arizona and for general working capital purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.
About Augusta
Augusta is a base metals company focused on advancing the Rosemont copper deposit near Tucson, Arizona. Rosemont hosts a large copper/molybdenum reserve that may account for about 10% of US copper output once in production in 2012. The Company is traded on the Toronto Stock Exchange and the NYSE Amex under the symbol AZC, and on the Frankfurt Stock Exchange under the symbol A5R.
