Underwriters Midland Walwyn Capital, Nesbitt Thomson and Goepel Shields & Partners have agreed to acquire 10 million special warrants of Kinross Gold (TSE) at $2.50 each for total proceeds of $25 million.
The special warrants are convertible, for no additional consideration, into an equal number of Kinross shares.
The subscription proceeds will be held in escrow until Kinross completes its acquisition of Falconbridge Gold (TSE) from Falconbridge (T.N.M., July 26/93).
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