Yamana Gold Completes Equity Financing

Yamana Gold Inc., a Canadian gold producer, completed a $200.1 million equity financing on May 2, 2006. An underwriting syndicate, co-led by Canaccord Capital Corporation and Merrill Lynch Canada Inc. that included BMO Nesbitt Burns Inc., CIBC World Markets Inc., GMP Securities L.P., National Bank Financial Inc., Sprott Securities Inc., Bear, Stearns & Co. Inc., Blackmont Capital Inc., Raymond James Ltd., Wellington West Capital Markets Inc., Jennings Capital Inc., Paradigm Capital Inc. and Salman Partners Inc., purchased 17.4 million common shares of Yamana at a price of $11.50 per share.
Yamana used approximately US$116.4 million of the net proceeds from the offering to repay its senior secured note facility. The balance of the net proceeds will be used for the advancement and development of Yamana's mineral properties, potential acquisitions, exploration activities and general corporate purposes.
Yamana was represented by Cassels Brock & Blackwell LLP with a team led by Mark Bennett that included Andrea FitzGerald and Patrick Gleeson (mining, securities) and Chris Norton (tax). Dorsey & Whitney LLP acted as US counsel to Yamana with a team led by Gil Cornblum that included Shona Smith, Alec Nisbet and Marcia Chang (securities) and Gabe Gartner and John Giles (tax).


Christopher B. Norton James Clare Mark T. Bennett Gil I. Cornblum Corina O. Zatreanu Christopher J. Steeves Michael N. Melanson Andrea FitzGerald Gabe Gartner


Cassels Brock & Blackwell LLP Dorsey & Whitney LLP Dentons Canada LLP Shearman & Sterling LLP