VANCOUVER,
BRITISH COLUMBIA--(Marketwired -
Dec. 8, 2014) - Pretium Resources
Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm"
or the "Company") is pleased to
announce that Zijin Mining Group
Co., Ltd. ("Zijin") has agreed to
make a strategic investment in the
Company which will result in Zijin
owning approximately 9.9% of
Pretivm's issued and outstanding
shares. Pretivm has agreed to issue
to Zijin by way of a private
placement 12,836,826 common shares
of the Company (the "Purchased
Shares") at a price per share of
C$6.30 for gross proceeds of
approximately C$80,872,004 (the
"Offering"). Zijin is a Shanghai and
Hong Kong listed company with
extensive interests across a broad
range of commodities, and is the
largest gold producer in China.
The Offering
constitutes a significant portion of
the planned equity component of the
financing required to bring the
Brucejack Project into production.
Pretivm intends to use the proceeds
from the Offering to fund capital
expenditures including the
procurement of long-lead items and
camp infrastructure. The permitting
process for a 2,700 tonne-per-day
underground mine at Brucejack is
currently underway.
"Zijin's
investment positions us well at a
critical stage in our advance to
production," said Pretivm's CEO
Robert Quartermain . "Zijin is a
well-capitalized shareholder, and as
fellow shareholders, we value their
long-term outlook and commitment to
gold and to the successful
development of our Brucejack Project
as a high-grade gold mine."
The Offering
is scheduled to close on or about
January 16, 2015, subject to
regulatory approvals and approvals
from the Chinese government or its
relevant authorized departments.
Pursuant to the subscription
agreement, Zijin will be entitled to
nominate one person to be appointed
to the board of directors of Pretivm
and will have a pre-emptive right to
participate in any future equity
financings of Pretivm to maintain
its approximately 9.9% interest…
The remainder
of this News Release can be read
either by going to Pretivm’s website
here
