MAG Silver Announces Exercise of Remaining Over-Allotment Option
August 13, 2014
MAG Silver Corp., announces that the remainder of the over-allotment option from the previously closed C$79 million bought deal financing has been fully exercised by the underwriters, and the closing of the sale of the additional 706,000 common shares at a price of C$10.25 per common share is expected to occur on or about August 18, 2014. The additional gross proceeds of C$7,236,500 from this further exercise of the over-allotment option brings the total gross proceeds raised from the full offering to C$86,284,500, and the Company’s cash position after the closing is estimated to be approximately US$90 million with no debt.
