Mirabela Nickel Completes $183M Offering

On May 2, 2007, Mirabela Nickel Limited completed its prospectus offering, issuing a total of 34,500,000 ordinary shares at $5.30 per share for gross proceeds of $182,850,000. In connection with the offering, the agents exercised an option to acquire an additional 4,500,000 shares (included in the total number of shares referred to above).

The syndicate of agents was led by Cormark Securities Inc. (formerly Sprott Securities Inc.) and included Dundee Securities Corporation, GMP Securities L.P., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc.

Mirabela was represented by Lawson Lundell LLP with a team that included Gordon Chambers, Jane Murdoch, Joanna Cameron and Cheryl Hsu (securities) and Len Glass (tax). Cassels Brock & Blackwell LLP acted for the agents with a team that included John Vettese, Chad Accursi, Eva Bellissimo and Robert Soccio (securities), and Chris Norton (tax).