RED BACK ANNOUNCES BOUGHT DEAL UPSIZED TO C$60 MILLION
November 21, 2008 (RBI ? TSX) ? Red Back Mining Inc. (the ?Company? or ?Red
Back?) announces that, in response to strong investor demand, it has upsized
their previously announced bought deal of C$40,005,000 (11,430,000 Common
Shares) to C$60,025,000 (17,150,000 Common Shares). The offering was led
by Scotia Capital Inc. and BMO Capital Markets. The Offering is expected
to close on or about December 11, 2008 and is subject to regulatory and stock
exchange approvals.
Proceeds from the Offering will be used to fund
capital expansion projects currently underway at Tasiast and Chirano, and for
general corporate purposes.
The Common Shares have not been and will not be
registered under the United States Securities Act of 1933, as amended, or under
any state securities laws, and may not be offered, sold, directly or
indirectly, or delivered within the United States of America and its
territories and possessions or to, or for the account or benefit of, United
States persons except in certain transactions exempt from the registration
requirements of such Act. This release does not constitute an offer to sell or
a solicitation to buy such securities in the United
States.
FORWARD-LOOKING INFORMATION
This press release contains ?forward-looking information? that is based
on Red Back?s current expectations, estimates, forecasts and projections.
This forward-looking information includes, among other things, statements with
respect to Red Back?s plans, outlook and business strategy. The words
?may?, ?would", ?could?, ?should?, ?will?, ?likely?, ?expect",
?anticipate?, ?intend?, ?estimate?, ?plan?, ?forecast?, ?project?, and
?believe? or other similar words and phrases are intended to identify forward-looking
information.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause Red Back?s actual results, level
of activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking information. Such factors
include, but are not limited to: uncertainties related to drilling
results; the ability to raise sufficient capital to fund exploration; changes
in economic conditions or financial markets; changes in prices for Red Back?s
mineral products or increases in input costs; litigation, legislative,
environmental and other judicial, regulatory, political and competitive
developments; technological or operational difficulties or inability to obtain
permits encountered in connection with exploration activities; and labour
relations matters.
This list is not exhaustive of the factors that may affect our
forward-looking information. These and other factors should be considered
carefully and readers should not place undue reliance on such forward-looking
information. Red Back disclaims any intention or obligation to update or
revise forward-looking information, whether as a result of new information,
future events or otherwise.
ON BEHALF OF THE BOARD:
(signed) ?Richard P. Clark,? President
For
further information, please call (604) 689-7842