Major Drilling announces exercise of over-allotment option in connection with its public offering of common shares
19 Oktober 2011 - 9:06AM
PR Newswire (Canada)
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES MONCTON, NB,
Oct. 21, 2011 /CNW/ - Major Drilling Group International Inc.
("Major Drilling" or the "Corporation") is pleased to announce that
it has received a notice from the syndicate of underwriters led by
TD Securities Inc. and including Scotia Capital Inc., CIBC World
Markets Inc., RBC Dominion Securities Inc., Beacon Securities
Limited., Jennings Capital Inc. and Salman Partners Inc. (the
"Underwriters"), exercising the over-allotment option to purchase
an additional 885,000 common shares of the Corporation at a price
of $11.90 per common share for aggregate proceeds of $10,531,500
(the "Over-Allotment"). The over-allotment option was granted to
the Underwriters in connection with a previously announced offering
of subscription receipts of the Corporation which were exchanged
for common shares on the closing of the acquisition of Bradley
Group Limited on September 30, 2011. Closing of the Over-Allotment
is expected to occur on or about October 25, 2011. About Major
Drilling Based in Moncton, New Brunswick, Major Drilling is one of
the world's largest metals and minerals contract drilling service
companies. To support its customers' mining operations, mineral
exploration and environmental activities, Major Drilling maintains
operations in Canada, the United States, South and Central America,
Australia, Asia and Africa. This press release may contain forward
looking information within the meaning of applicable securities
laws including, without limitation, those identified by the
expressions "expect" "intend" and similar expressions to the extent
they relate to Major Drilling. Forward looking information is not
historical fact but reflects Major Drilling's current expectations
regarding future results or events. Forward looking information is
subject to a number of risks and uncertainties that could cause
actual results or events to differ materially from current
expectations, including the timing of the closing, the closing of
the Over-Allotment, issue of the common shares, use of proceeds
received from the Over-Allotment and general economic and industry
conditions. Although Major Drilling believes that the assumptions
inherent in the forward looking information are reasonable, forward
looking information is not a guarantee of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The
forward looking information contained herein is expressly qualified
in its entirety by this cautionary statement. The forward looking
information contained herein is made as of the date of this press
release, and the Corporation undertakes no obligation to publicly
update such forward looking information to reflect new information,
subsequent or otherwise, unless required by applicable securities
laws. All dollar values are quoted in Canadian dollars. THIS NEWS
RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES
AND IS NOT AN OFFER TO SELL OR SOLICITATION OF AN OFFER TO BUY ANY
SECURITIES OF MAJOR DRILLING, NOR SHALL IT FORM THE BASIS OF, OR BE
RELIED UPON IN CONNECTION WITH ANY CONTRACT FOR PURCHASE OR
SUBSCRIPTION. THE SECURITIES REFERRED TO IN THIS NEWS RELEASE WERE
ONLY OFFERED IN CERTAIN PROVINCES OF CANADA BY MEANS OF PROSPECTUS.
SECURITIES MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT
REGISTRATION UNDER THE U.S. SECURITIES ACT OR AN EXEMPTION FROM
REGISTRATION THEREUNDER. THE SECURITIES REFERRED TO IN THIS NEWS
RELEASE HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S.
SECURITIES ACT OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION UNDER THE
U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR
PURSUANT TO AN APPLICABLE EXEMPTION THEREFROM. MAJOR DRILLING GROUP
INTERNATIONAL INC. CONTACT: Denis Larocque, Chief Financial Officer
Tel: (506) 857-8636Fax: (506) 857-9211ir@majordrilling.com
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