Friday, 16 March 2012

Extorre Gold Mines closes $25 million bought deal private placement financing

Extorre Gold Mines (CVE:XG)(AMEX:XG) said Friday that it closed a $25 million private placement, issuing 3.5 million common shares at $7.10 each.

The underwriter of the offering received a cash commission equal to 5 percent of the gross proceeds raised through the offering.

The net proceeds will be used for exploration and development of the company's mineral projects in Argentina and for general working capital purposes, the company said.

Extorre is an emerging gold & silver producer in Argentina. Cerro Moro is Extorre's flagship gold-silver property located in mining friendly Santa Cruz Province.

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