Cambior (CBJ-T) has received a final receipt for a short form prospectus regarding the issuance of $27.75 million worth of units. Consequently, the number of shares outstanding will soon rise to 126.2 million shares and the number of listed warrants to 10.67 million.
In late February, an underwriting syndicate led by Sprott Securities to buy 7.5 million units for $1.30 apiece, adding to 13.8 million units bought earlier on. A unit consists of a share and half a share-purchase warrant, with a full warrant entitling the holder to buy another share within 12 months at $1.70.
Cambiar recently posted its first profit since mid-2000, earning US$12.1 million (or 12 per share) in the final three months of 2001. However, the quarterly profit was not enough to overcome earlier losses, with the gold miner lossing US$8.2 million (9 per share) in all of 2001.
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