Pretivm Closes Financing
April 26 2013 - 3:14PM
Marketwired
Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased
to announce that it has closed its private placement with Liberty
Metals & Mining Holdings, LLC ("LMM"), a subsidiary of
Boston-based Liberty Mutual Insurance, of 5,780,346 common shares
of Pretivm (the "Purchased Shares") at a price per share of C$6.92
for gross proceeds of approximately C$40 million (the "Offering").
The purchase price is based on the volume-weighted average price of
Pretivm's common shares on the Toronto Stock Exchange for the
twenty trading days ended April 19, 2013.
Pretivm intends to use the proceeds of the Offering to fund work
at its Brucejack Project, including the completion of the planned
10,000-tonne bulk sample and underground drilling program at the
Valley of the Kings, ongoing permitting activities, and the
acceleration of other activities which will advance the high-grade
gold Valley of the Kings into development.
Under applicable Canadian securities law, LMM is not permitted
to trade the Purchased Shares for a period of four months plus one
day from the closing of the Offering. The Purchased Shares
described herein have not been, and will not be, registered under
the United States Securities Act of 1933, as amended, and may not
be offered or sold within the United States absent registration or
an applicable exemption from the registration requirements of such
Act.
About Pretivm
Pretivm is creating value through gold at its high-grade gold
Brucejack Project, located in northern British Columbia. Brucejack
hosts a major undeveloped high-grade gold resource and
mineralization remains open along strike and at depth. A
feasibility study for a high-grade underground mine in Brucejack's
Valley of the Kings is underway and expected in the second quarter
of 2013.
(SEDAR filings: Pretium Resources Inc.)
Forward-Looking Statements
This News Release contains "forward-looking information" and
"forward looking statements" within the meaning of applicable
Canadian and United States securities legislation. Forward-looking
information may include, but is not limited to, risks related to
our planned exploration and development activities, the adequacy of
Pretivm's financial resources, the estimation of mineral resources,
realization of mineral resource estimates, timing of development of
Pretivm's Brucejack Project, costs and timing of future
exploration, results of future exploration and drilling, production
and processing estimates, capital and operating cost estimates,
timelines and similar statements relating to the economic viability
of the Brucejack Project, timing and receipt of approvals, consents
and permits under applicable legislation, Pretivm's executive
compensation approach and practice, and adequacy of financial
resources. Wherever possible, words such as "plans", "expects",
"projects", "assumes", "budget", "strategy", "scheduled",
"estimates", "forecasts", "anticipates", "believes", "intends" and
similar expressions or statements that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur
or be achieved, or the negative forms of any of these terms and
similar expressions, have been used to identify forward-looking
statements and information. Statements concerning mineral resource
estimates may also be deemed to constitute forward-looking
information to the extent that they involve estimates of the
mineralization that will be encountered if the property is
developed. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance are not
statements of historical fact and may be forward-looking
information. Forward-looking information is subject to a variety of
known and unknown risks, uncertainties and other factors that could
cause actual events or results to differ from those expressed or
implied by the forward-looking information, including, without
limitation, those risks identified in Pretivm's prospectus
supplement to the short form base shelf prospectus dated March 19,
2012 filed on SEDAR at www.sedar.com and in the United States
through EDGAR at the SEC's website at www.sec.gov. Forward-looking
information is based on the expectations and opinions of Pretivm's
management on the date the statements are made. The assumptions
used in the preparation of such statements, although considered
reasonable at the time of preparation, may prove to be imprecise.
We do not assume any obligation to update forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by applicable law. For the
reasons set forth above, prospective investors should not place
undue reliance on forward-looking information.
The TSX has neither approved nor disapproved of the information
contained herein.
Contacts: Pretium Resources Inc. Robert Quartermain (604)
558-1784 Pretium Resources Inc. Michelle Romero (604)
558-1784invest@pretivm.com www.pretivm.com
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