Over-allotment option exercised prior to closing; Total of 24,035,000 shares issued at US$17.25 per share
Gross proceeds approximately US$414.6 million
Toronto, Ontario, February 5, 2009 -- Kinross
Gold Corporation (TSX-K; NYSE-KGC) announced today that it has
completed its previously announced bought deal public offering of
common shares of Kinross at a price of US$17.25 per common share.
The underwriters, led by UBS Securities Canada Inc., elected to
exercise their over-allotment option in full prior to closing
today, resulting in a total of 24,035,000 common shares being
issued for gross proceeds of US$414,603,750.
The Company intends to use the net proceeds of the offering to
enhance its capital position following the funding of recent
acquisitions and for general corporate purposes
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements regarding the Company and its offering arrangements. Actual results and developments may differ materially from those contemplated by these statements depending on, among others, such key factors as market conditions and global political uncertainties. The Company disclaims any intention or obligation to update any forward-looking statement even if new information becomes available as a result of future events or for any other reason, except to the extent required by applicable law.