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Wednesday, October 6, 2010

Citigroup (NYSE:C), Macquarie Acquiring OceanaGold (TSE:OGC), Shares, Warrants

In an effort to raise $152 million, OceanaGold (TSE:OGC), which is NZX-listed, is offering a private placement, with Citigroup Global Markets Canada (NYSE:C) and Macquarie Capital Markets Canada underwriting the placement, agreeing to acquire special warrants and common shares in OceanaGold for C$3.50 each.

The purpose is to fund its gold and copper mine in the Philippines, while also expanding its gold mines in New Zealand.

A trading halt has been placed on OceanaGold, which is listed on, along with the New Zealand exchange, on the Australian and Toronto exchanges as well.

Other funding is being considered for its Didipio project in the Philippines, as this funding is targeted for the Reefton and Macraes gold mines.

The offering has a closing date of October 20.

1 comment:

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