Capital Reorganisation

SouthernEra Closes C$69.75 Million Equity Financing

 

    Shares Issued and Outstanding: 52,593,793

    TSX: SUF

    AIM: SRE

 

    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED

    STATES./

 

    TORONTO, Feb. 20 /CNW/ - SouthernEra Resources Limited announced today it

has completed its previously announced equity financing with a syndicate led

by Griffiths McBurney & Partners and including BMO Nesbitt Burns Inc., CIBC

World Markets Inc., Haywood Securities Inc., Sprott Securities Inc. and

Canaccord Capital Corporation for gross proceeds of C$69.75 million. The

financing consisted of 9 million common shares at C$7.75 per share.

    The proceeds of the financing will be used to support debt restructuring,

further develop the greater Messina platinum group metal mine, working capital

requirements, future expansion efforts and general corporate purposes.

    The securities offered have not been registered under the U.S. Securities

Act of 1933, as amended, and may not be offered or sold in the United States

absent registration or applicable exemption from the registration

requirements. This press release shall not constitute an offer to sell or the

solicitation of an offer to buy nor shall there be any sale of the securities

in any State in which such offer, solicitation or sale would by unlawful.

    SouthernEra Resources is an independent producer of platinum group metals

(PGM's) and diamonds. The company also has an extensive PGM and diamond

exploration program. The common shares are listed on the Toronto Stock

Exchange and the London Stock Exchange AIM.

     

    For further information: PLEASE CONTACT: SouthernEra Resources Limited,

Patrick C. Evans, President and CEO; or Dr. Sally Eyre, Vice President,

Corporate Affairs, Telephone: [phone], Fax: [phone], e-mail:

inbox(at)southernera.com

    (SUF. SRE)