/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
TORONTO, July 27, 2016 /CNW/ - Belo Sun Mining Corp.
(TSX:BSX) (the "Company") has closed its previously announced
bought deal financing with a syndicate of underwriters co-led by TD
Securities Inc. and Canaccord Genuity, and including BMO Nesbitt
Burns Inc., Scotia Capital Inc., CIBC World Markets Inc., Dundee
Securities Ltd., and National Bank Financial Inc., pursuant to
which the Company issued 77,320,000 common shares of the Company
(each, a "Common Share") at a price of C$0.97 per Common Share, for aggregate gross
proceeds of C$75,000,400 (the
"Offering").
The net proceeds of the Offering will be used for
pre-construction engineering activities, purchase of long lead time
items, early project workings and working capital.
Agnico Eagle Mines Limited exercised its participation right to
maintain its pro rata interest in full in connection with the
Offering.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.
About the Company
Belo Sun Mining Corp. is a
Canadian-based mineral exploration and development company with a
portfolio of gold-focused properties in Brazil. Belo
Sun's primary focus is advancing and expanding its 100%
owned Volta Grande Gold Project, located in Para State.
Belo Sun trades on the TSX under the
symbol "BSX". For more information about Belo Sun please visit www.belosun.com.
Caution regarding forward-looking information:
This
press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation.
Forward-looking information includes, without limitation,
statements regarding the proposed use of proceeds. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including risks inherent in the mining
industry and risks described in the public disclosure of the
Company that is available under the profile of the Company on SEDAR
at www.sedar.com and on the Company's website at www.belosun.com.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking information. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
SOURCE Belo Sun Mining Corp.