MAG Silver Announces US$65 Million Bought Deal Financing

http://www.stockhouse.com/news/press-releases/2016/02/22/mag-silver-announces-us-65-million-bought-deal-financing

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 22, 2016) – MAG Silver Corp. (TSX:MAG)(NYSE MKT:MVG) (“MAG” or the “Company”) announced today that it has entered into an agreement with a syndicate of underwriters led by Scotia Capital Inc., BMO Capital Markets and Raymond James Ltd. (the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 8,905,000 common shares of the Company (the “Common Shares”) at a price of US$7.30 per Common Share, for total gross proceeds of US$65,006,500 (the “Offering”). The Company will also grant to the Underwriters an over-allotment option (the “Over-Allotment Option”) to purchase up to 1,335,750 additional Common Shares (the “Over-Allotment Shares”). The Over-Allotment Option will be exercisable for a period of 30 days following closing.

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