The final prospectus qualifies the distribution of an aggregate of up to 59,225,957 Brio Shares at a price of C$3.25
per Brio Share (the “Exercise Price”) upon the exercise of up to an
aggregate of 59,225,957 Purchase Rights, for aggregate gross proceeds to
Yamana of up to C$192,484,360….
…Brio Gold will become a standalone public company
effective as of the closing date of the Offering, with Yamana holding
46.3% (on a non-diluted basis) of the issued and outstanding shares of
Brio Gold. The closing date of the Offering is expected to occur on or
about December 23, 2016.
total of 17,324,507 Brio Shares owned by Yamana were transferred
pursuant to the transactions …Yamana continues to be a significant
shareholder of Brio Gold, holding approximately 85% of the issued and
outstanding Brio Shares.”
So, 17.325m shares of BRIO at C$3.25. Then in March, Marrone managed to hoodwink some fund manager into buying a 6m block at C$3.35.
And now? This:
YAMANA GOLD INC. (TSX:YRI) (NYSE:AUY) (“Yamana” or the “Company”) is pleased to announce that it has, along with Brio Gold Inc. (“Brio Gold”), entered into an agreement with a syndicate of underwriters (the “Underwriters”) co-led by Canaccord Genuity Corp., CIBC Capital Markets and National Bank Financial Ltd. pursuant to which the Underwriters have agreed to purchase 26,667,000 common shares of Brio Gold currently held by Yamana on a bought deal basis at an offering price of C$3.00 per Brio Gold common share (“the Offering”).