Wheaton arranges financing

To help finance the US$75-million purchase of Minas Luismin, a Mexican gold-silver producer, Wheaton River Minerals (WRM-T) has arranged a brokered private placement comprising 82 million special warrants priced at $1.15 each, for gross proceeds of $94.3 million.

Griffiths McBurney & Partners is acting as lead agent for an investment banking syndicate, which includes BMO Nesbitt Burns, Canaccord Capital and Haywood Securities. Each special warrant consists of a share and a half-warrant. A whole warrant will entitle the holder to buy one additional share at $1.65 over five years.

The agents will have the option of increasing the size of the private placement by up to 20 million special warrants for additional proceeds of up to $23 million. The financing is scheduled to close May 30.