1 May 2014
TORONTO, May 1, 2014 – TMAC Resources Inc. (“TMAC” or the “Company”) is pleased to announce the successful completion of a private placement consisting of 43,943,700 common shares at a price of $1.75 (the “Common Shares”) and 434,000 Common Shares issued on a flow-through basis at a price of $2.00 (the “Flow-Through Shares”), for aggregate gross proceeds of $77,769,475 (the “Offering”). The Offering was made through a syndicate of investment dealers co-led by CIBC World Markets Inc. and BMO Capital Markets, and included Scotia Capital Inc. and Primary Capital Inc. A total of $65 million of the Offering was placed with Resource Capital Fund VI L.P.
The net proceeds of the Offering will be used by TMAC at its 100% owned Hope Bay Gold Project (“Hope Bay”) located approximately 685 kilometres northeast of Yellowknife in the Kitikmeot region of Nunavut, Canada, to fund its 2014 program including exploration, engineering, environmental permitting and compliance, a pre-feasibility study and for working capital and general corporate purposes. Coincident with the closing of the financing, the Company repaid the $15 million dollar convertible loan plus interest owed to Newmont Mining Corporation, which was scheduled to mature on December 31, 2014.