On December 5, 2002, Kinross Gold Corporation completed a bought deal offering of 50 million units (comprised of 50 million common shares and 25 million warrants) at $3.05 per unit for gross proceeds of $152.5 million. Each whole warrant can be exercised on or before December 5, 2007 for one common share from treasury at an exercise of $5. In the U.S., a portion of the offering was made by way of a private placement.
Griffiths McBurney & Partners and CIBC World Markets Inc. were co-leads for the offering, with a syndicate that included RBC Dominion Securities Inc., Scotia Capital Inc. and Canaccord Capital Corporation.
Cassels Brock & Blackwell LLP acted as Canadian counsel to Kinross, with a team comprised of Cameron Mingay, Jeffrey Roy, André Boivin and Lori Prokopich (securities/corporate) and Christopher Norton (tax). Chadbourne & Parke LLP in New York acted as U.S. counsel to Kinross, with a team comprised of Philip Colbran, Damien Atkins and Sheila Peluso (securities/corporate) and Barry Dinaburg and David Danon (tax).
Blake, Cassels & Graydon LLP acted as Canadian counsel to the underwriters, with a team comprised of Sheila Murray, Geoff Belsher, Anoop Dogra, Andrew McLeod, Dori Assaly, James Clarke, Neil Kothari, John Bursic and Pascal Ouimet (securities/corporate) and Paul Tamaki (tax). Skadden, Arps, Slate, Meagher & Flom LLP in New York acted as U.S. counsel to the underwriters, with a team comprised of Phyllis Korff, Richard Aftanas and Nathan Marinoff (corporate finance) and William Weiss (tax) in New York.