Paramount Gold and Silver announces secondary offering

Paramount Gold and Silver Corp., a Canada-based precious metals exploration company, intends to offer 16 million shares of its common stock through a public offering.

Paramount Gold and Silver intends to grant the underwriters a 30-day option to purchase up to 2.4 million additional shares of common stock to cover over-allotments.

As part of the transaction, FCMI Financial Corporation intends to purchase shares of common stock in the offering.

Dahlman Rose & Company, LLC is acting as book-running manager, while Blackmont Capital, Inc. is acting as joint lead-manager for the offering.

Deal Type    IPO
Sub-Category Secondary Offering
Deal Status  Announced: 2009-10-05

Deal Participants

Target (Company) Paramount Gold and Silver Corp.

Deal Rationale

Paramount intends to use the net proceeds of the offering for exploration of its San Miguel project, for newly acquired projects in the Palmarejo mining district, for the acquisition and exploration of new precious metals projects and for general corporate purposes.

No. Shares Issued 16000000

Related terms: book, canada, corporate, exploration, gold, ipo, metals, mining, precious metals, public offering, silver