BC Pacific Completes Secondary Offering

On November 24, 2003, BC Pacific Capital Corporation completed its secondary offering of 82,540,071 common shares of Northgate Exploration Limited, for aggregate gross proceeds to BC Pacific of $218.7 million. The underwriting syndicate was led by RBC Dominion Securities Inc., and included CIBC World Markets Inc., Griffiths McBurney & Partners, BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, Sprott Securities Inc., Westwind Partners Inc. and Trilon Securities Corporation.

BC Pacific was represented by Fraser Milner Casgrain LLP, with a team that included Bruce McKay and Alan Hutchison. Northgate Exploration was also represented by Fraser Milner Casgrain, with a team that included Leslie Ann Johnson, Brad Kruger and Gary Quedado. The underwriters were represented by Goodman and Carr LLP, with a team that included Jenny Chu Steinberg, Linda Misetich and Ivan Grbesic. Gil Cornblum of Dorsey & Whitney LLP in Toronto was US counsel.