VANCOUVER, Sept. 17 /CNW/ - Mercator Minerals Ltd. (the "Company") (TSX - "ML") is pleased to announce that it has closed its previously announced bought deal offering (the "Offering") of common shares of the Company. The underwriters, co-led by Jennings Capital Inc., and Scotia Capital Inc., and including Blackmont Capital Inc., Haywood Securities Inc. and Acumen Capital Finance Partners Ltd., (collectively, the "Underwriters") elected to exercise their overallotment option in full, resulting in a total of 30,961,538 common shares of the Company being issued by the Company for gross proceeds of $80,500,000.

The Company intends to use the net proceeds of the prospectus offering to advance the Stage 2 of the Phase 4 expansion of the Mineral Park Project and for working capital purposes

Methinks with all the big money exercising all their share options upon the recent equity issuance, we are headed for a nice lil ride higher