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Baffinland Iron Mines completes $193 million public offering

Date Closed

March 27, 2008

Lead Office



193.00 Million CAD

On March 27, 2008, Baffinland Iron Mines Corporation completed a public offering of common shares for gross proceeds of C$193 million. Pursuant to a short-form prospectus, 52,886,985 common shares of the company (including 4,941,780 common shares pursuant to the partial exercise of the underwriters' over-allotment option) were offered by a syndicate of underwriters led by Raymond James Ltd. and including CIBC World Markets Inc., BMO Nesbitt Burns Inc., GMP Securities L.P., National Bank Financial Inc. and Loewen, Ondaatje, McCutcheon Limited.

The Baffinland Iron Mines Corporation is working to develop a large open pit iron mine in the Mary River area of Baffin Island, Nunavut, Canada.

The underwriters were represented by McCarthy Tétrault LLP with a team that included Gary Litwack, Matthew Cumming and Jane Askeland.