07 03 2016

Oban Mining Corporation's $12.6 Million Subscription ReceiptsOffering for Subscription Receipts

Cassels Brock Acts for Agents in the Completion of a $12.6 Million Private Placement Offering for Subscription Receipts of Oban Mining Corporation


Oban Mining Corporation closed a previously-announced private placement financing of 10,521,700 subscription receipts for gross proceeds of $12,626,040, pursuant to an agency agreement among Oban and Dundee Securities Ltd., Beacon Securities Limited, Medalist Capital Ltd., Cormark Securities Inc., Haywood Securities Inc. and M Partners Inc. Each subscription receipt entitles the holder thereof, upon satisfaction of certain escrow release conditions, to receive, for no additional consideration and without further action on the part of the holder, one common share and one common share purchase warrant of Oban. Each warrant will entitle the holder thereof to purchase one common share of Oban for a period of thirty-six months from the closing date of the offering at an exercise price of $1.44, subject to early expiry in certain circumstances. The net proceeds from the Offering will be used by Oban to fund certain expenses in connection with the acquisition by Oban of all of the common shares of NioGold Mining Corp. and for working capital and general corporate purposes. Oban Mining Corporation is a Canadian resource company focused on the exploration and development of gold projects in the Americas. The company, led by John F Burzynski, Blair D Zaritsky, Jose Vizquerra Benavides and Gernot Wober, is based in Toronto. Cassels Brock represented the Agents with a team that included John Vettese (Picrture), Alex Iliopoulos, Joel McElravy, Jonathan Sherman (Securities and Mining). Involved fees earner: John Vettese - Cassels Brock & Blackwell LLP; Alexandra Iliopoulos - Cassels Brock & Blackwell LLP; Joel McElravy - Cassels Brock & Blackwell LLP; Jonathan Sherman - Cassels Brock & Blackwell LLP;

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