Franco-Nevada
Announces Closing of
Previously
Announced Bought Deal Financing
NOT FOR DISTRIBUTION TO
U.S. NEWSWIRE
SERVICES OR DISSEMINATION IN THE UNITED STATES
For immediate release
TORONTO, March 13, 2008 –
Franco-Nevada Corporation (TSX:FNV) (the “Company”)
announces today the closing of its previously announced public offering (the “Offering”) of 11,500,000 units (“Units”), which includes the full
exercise at closing of the over-allotment option. Each Unit was sold at a price
of $23.25 per Unit for aggregate gross proceeds to the Company of $267,375,000.
Each Unit consists of one common share of the Company and one-half of one common
share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to
purchase one common share of the Company at a price of $32.00 at any time on or
before 5:00pm
(Toronto time) on
March 13,
2012. The common shares are listed on the
TSX. The Warrants are also listed on the TSX under the symbol
“FNV.WT.”
The Units were sold on a bought deal basis through a
syndicate of underwriters led by BMO Capital Markets and
UBS Securities Canada Inc., and included CIBC World Markets Inc.,
GMP Securities L.P., RBC Dominion Securities
Inc., Scotia Capital Inc., HSBC Securities
(Canada)
Inc., National Bank Financial Inc., Dundee Securities Corporation, Genuity
Capital Markets, Paradigm Capital Inc. and Wellington West Capital Markets
Inc.
The Company intends to use the net proceeds of this
Offering for resource royalty acquisitions, corporate development opportunities
and for general corporate purposes.
(All
amounts are in Canadian dollars)
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 news 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 of
Franco-Nevada Corporation in any State in which such offer, solicitation or sale
would be unlawful.
Forward
Looking Statements
This
news release contains forward-looking information, including “forward looking
information” and “forward-looking statements” within the meaning of applicable
Canadian and United
States
securities laws. Such forward-looking statements include, without limitation,
statements regarding the intended use of the net proceeds of the Offering. Where
statements by Franco-Nevada express or imply an expectation or belief as to
future events or results, such expectation or belief is expressed in good faith
and believed to have a reasonable basis. However, forward-looking statements are
subject to risks, uncertainties and other factors (including without limitation
risk factors identified in Franco-Nevada’s filings available at www.sedar.com),
which could cause actual results to differ materially from future results
expressed, projected or implied by such forward-looking statements.
Franco-Nevada expressly disclaims any obligation to release publicly revisions
to any forward looking statement to reflect events or circumstances after the
date of this news release, or to reflect the occurrence of unanticipated events,
except as may be required under applicable securities laws..
For
more information, please contact:
David Harquail
Philip Koven
Chief Executive Officer
Investor Relations
416-480-6480
416-447-4740
Ext 235