Placer selling Equity shares

Placer Development has agreed to sell 4.82 million common shares of Equity Silver Mines to Dominion Securities and Nesbitt Thomson Deacon as underwriters. Price of the shares will be $12.50 each.

Placer has also agreed to grant the underwriters an option on an additional 480,000 common shares of Equity Silver at the same price to cover over-allotments, if any.

Because of the offering, Placer’s interest in Equity Silver will drop to about 60%. If all outstanding preferred shares of Equity Silver are converted into common shares, Placer’s interest in Equity Silver will be about 54%.