Rodman & Renshaw, LLC Serves as a Placement Agent in Gryphon Minerals A$48.2 Million Funding Package
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), a leading full service investment bank for growth companies today announced its role as a placement agent for a A$45.2 million capital raise via a share placement for West African gold explorer Gryphon Minerals Limited (ASX: GRY). The placement is part of an overall funding package of up to A$48.2 million.
Under the capital raising Gryphon will issue a tranche of 36.1 million fully paid ordinary shares to new and existing North American, European and Australian institutional investors at an issue price of A$1.25 per share. In addition, Gryphon will initiate a share purchase plan, open to all eligible shareholders, to raise up to A$3.0 million at A$1.25 a share, for total funds of up to A$48.2 million. Documents relating to the share purchase plan will be distributed in due course.
The proceeds of the capital raising will be used for additional exploration and studies at Gryphon’s flagship Banfora Gold Project, where the Gryphon earlier this month announced an increase in the Australasian Joint Ore Reserves Committee (JORC) inferred resource estimate to 21Mt @ 2.2 g/t for 1.5 million oz of gold. The funds will also be used to commence exploration work at the Tijirit Gold Project in Mauritania, which is adjacent to Kinross Gold Corp.’s world class Tasiast gold mine and which Gryphon acquired last month in its takeover of Shield Mining Limited.
Euroz Securities Limited and Paradigm Capital Inc. acted as Joint Lead Managers to the Placement. Rodman & Renshaw, LLC BGF Equities, and CIBC World Markets also participated in the Placement. Max Capital acted as Corporate Advisors to Gryphon.
Detailed information on all aspects of Gryphon Minerals projects can be found on the Gryphon’s comprehensive website www.gryphonminerals.com.au.
About Gryphon Minerals Limited
Gryphon Minerals Limited (ASX: GRY) is an ASX listed West African focused gold exploration company focused on developing the +1.5 Moz Banfora Gold Project in Burkina Faso, and also the Tijirit Gold Project in Mauritania. Gryphon has a substantial and strategic land position of more than 3,600 km² in West Africa and its management team has extensive experience in the resources industry, including in project acquisition, exploration, resource definition and financing.
About Rodman & Renshaw Capital Group, Inc.
Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.
Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of deal volume of PIPE and RD financing transactions completed every year since 2005.
For more information visit Rodman & Renshaw on the Internet at www.rodm.com
Rodman & Renshaw Investor Relations
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