SEMAFO Completes $57.9M Bought Deal Private Placement and US$90M Credit Facility with Macquarie Bank

SEMAFO Inc. (SEMAFO) announced that it had completed a bought deal private placement of 15,640,000 common shares at a price of $3.70 per share for aggregate gross proceeds of $57.9 million and a senior secured credit facility with Macquarie Bank Limited (Macquarie). This senior secured credit facility provides for an amortizing three-year term loan in the principal amount of US$90 million.

The transaction closed on March 4, 2015.

The private placement was completed by a syndicate of underwriters that was led by Clarus Securities Inc. and included BMO Capital Markets, CIBC World Markets Inc., Paradigm Capital Inc. and Scotia Capital Inc. (the Underwriters).

The net proceeds of the private placement and the credit facility were used to finance a portion of the acquisition consideration for the shares of Orbis Gold Limited (Orbis Gold) acquired by SEMAFO pursuant to a public offer in Australia.

SEMAFO was represented by Eric Paul-Hus, Vice-President, Law, Chief Compliance Officer and Corporate Secretary, and Mireille Tremblay, Legal Advisor, and by McMillan LLP. The McMillan team was composed of Hellen Siwanowicz, Kosta Kostic, Tim Hughes and Money Khoromi (capital markets), and Eric Friedman, Yonatan Petel and Sean Brandreth (financial services).

The Underwriters were represented by Norton Rose Fulbright Canada LLP. The Norton Rose team included Pierre Dagenais, Denno Chen and Kaitlind de Jong.

Macquarie was represented by in-house counsel Julia Hilbert and Anita Chiu, and represented externally by Norton Rose Fulbright Canada LLP with a team that included Pete Wiazowski, Sandra Nissan, Amanda Plastina, Alexander Schmitt and Sandro Muzzo.

In connection with the acquisition of Orbis Gold, SEMAFO was advised by Ashurst LLP in respect of Australian law matters, and by McMillan LLP in respect of Canadian law matters.

Lawyer(s)

Hellen Siwanowicz Kosta Kostic Timothy Hughes Eric B. Friedman Yonatan Petel Pierre R. Dagenais Sandra Nissan Amanda Plastina