/NOT FOR DISTRIBUTION TO UNITED
STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
TORONTO,
Feb. 12, 2014 /CNW/ - Torex Gold
Resources Inc. (TSX:TXG; TXG.WT) (the "Company" or
"Torex") announced today that it has closed its previously
announced bought deal offering (the "Offering") of units
(the "Units") of the Company. A total of 119,830,000 Units
have been issued at a price of C$1.20
per Unit, for aggregate gross proceeds of C$143,796,000, which includes the full exercise
by the underwriters of the over-allotment option for 15,630,000
Units. Each Unit consists of one common share of the Company and
one-half of one common share purchase warrant. Each whole common
share purchase warrant entitles the holder to purchase one common
share of the Company at an exercise price of C$1.50 until August 12,
2014.
The Units were sold pursuant to an underwriting
agreement with a syndicate of underwriters led by BMO Capital
Markets, and including Dundee Securities Ltd., GMP Securities L.P.,
Scotia Capital Inc., Macquarie Capital Markets Canada Ltd., RBC
Capital Markets, Clarus Securities Inc., Desjardins Securities Inc.
and Industrial Alliance Securities Inc.
The common share purchase warrants are listed on
the Toronto Stock Exchange under the symbol "TXG.WT" and will start
trading today. The common shares issued pursuant to the Offering
will also commence trading today under the symbol "TXG".
The net proceeds of the Offering will be used to
fund the ongoing mine development and construction plan for the El
Limón and Guajes project and for general corporate purposes.
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 the United
States or in any other jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities 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 an applicable exemption
from the registration requirements thereunder.
About Torex
Torex is a growth-oriented, Canadian-based
resource company engaged in the exploration and development of
precious metal resources with a focus on gold. It owns 100% of the
Morelos Gold Property, which is located 180 kilometres southwest of
Mexico City in the highly
prospective Morelos Gold Belt. Torex
is aggressively exploring within its property to identify a
pipeline of additional future economic deposits. The property
covers an area of 29,000ha of which more than 75% remains
unexplored.
CAUTIONARY NOTE REGARDING FORWARD LOOKING
STATEMENTS
This press release contains "forward looking
statements" and "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, information with
respect to the use of proceeds of the Offering, and information
with respect to future exploration and development plans concerning
the Morelos Gold Property. Generally, forward-looking information
can be identified by the use of forward-looking terminology such as
"plans", "expects", "estimates", "intends", "anticipates" or
"believes" or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the reasonable assumptions,
estimates, analysis and opinions of management made at the date
that such statements are made. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of the Company to be materially different from
those expressed or implied by such forward-looking information,
including a need to reallocate the use of proceeds of the Offering
due to changes in the exploration and development plans for the El
Limón and Guajes project, or for other prudent business reasons,
and the risk factors disclosed elsewhere in the Company's public
disclosure. Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information
contained herein is presented for the purposes of assisting
investors in understanding the Company's plans and objectives and
may not be appropriate for other purposes. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE Torex Gold Resouces Inc.
