Welcome To The Gold Wheaton Corp. HUB On AGORACOM
Gold Wheaton purchases the gold by-product streams from the production of existing mines or mines currently being constructed.
Message: Announces C$100 Million Debt Financing
| March 31, 2009 |
| Gold Wheaton Announces C$100 Million Debt Financing |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2009) - Gold Wheaton Gold Corp. (TSX VENTURE:GLW) ("Gold Wheaton" or the "Company") is pleased to announce that it has reached an agreement in principal regarding a debt financing by way of senior secured notes ("Notes"). The Notes will bear interest at the rate of 10% per annum and will have a five year term. Sprott Asset Management Inc on behalf of certain funds and managed accounts ("Sprott") has agreed to subscribe for Notes in the principal amount of C$100,000,000. Gold Wheaton has also agreed to issue to Sprott 125 million warrants with a five year term, and exercisable at a price of C$0.50 per share. Gold Wheaton will have the option to increase the offering of Notes to a total principal amount of C$115,000,000 with additional proportional warrants on the same terms described herein. Gold Wheaton was advised by Paradigm Capital Inc. Completion of the debt financing is subject to standard conditions including completion of due diligence by Sprott, receipt of necessary board approvals and execution and delivery of definitive note and security documentation. The debt financing is also subject to requisite regulatory approval including the approval of the TSX Venture Exchange. The net proceeds of the debt financing will be used for general corporate purposes, including gold stream acquisitions. "We are exceptionally pleased to have Sprott Asset Management as a financial partner." said David Cohen, Chairman and CEO of Gold Wheaton. "Sprott has a history of recognizing value in long-term resource trends and this facility signifies their endorsement of Gold Wheaton. This C$100 million significantly augments our cash position in a non-dilutive manner and positions us well to execute future accretive transactions on behalf of our shareholders." Gold Wheaton is a gold company with 100% of its operating revenue from the sale of gold and precious metals produced by others. The Company is actively pursuing further growth opportunities. The Company's 1,406,905,668 issued and outstanding shares are listed on the TSX Venture Exchange under the symbol "GLW". |
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