Rusoro Mining sets terms of $100.2-million financing

2009-02-24 12:28 ET - News Release

Mr. George Salamis reports

RUSORO MINING LTD. ANNOUNCES TERMS OF C$100,200,000.00 EQUITY FINANCING

Rusoro Mining Ltd., in connection with its previously announced overnight marketed public offering on Feb. 23, 2009, has entered into an underwriting agreement with Canaccord Capital Corp. to act as sole underwriter and sell 167 million common shares in the company at a price of 60 cents per share to raise gross proceeds of $100.2-million, pursuant to a short form prospectus.

In addition, the company has granted Canaccord an option to purchase up to that number of common shares equal to 15 per cent of the common shares sold pursuant to the offering, exercisable at any time up to 30 days from the closing of the offering.

____________________________________

Now that will be some serious dilution...700 million shares outstanding!

How many KRY bonds will a 100 mil buy?

Hg