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: (416) 359-9282, Fax: (416) 359-9141, e-mail: inbox(at)southernera.com (SUF. SRE)
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