Reno-based Glamis Gold Ltd. said
last week it sold 1,815,000 additional
common shares through the exercise of
the underwriters' over-allotment option
as part of its recent equity offering.
When combined with the original
offering completed on Nov. 26, the proceeds
to Glamis were $175.66 million
(Canadian). At recent exchange rates,
that's about $112.4 million (U.S.)
Glamis has said it will use the money
to finance development of its El Sauzal
gold property in Mexico as well as work
at its Marlin gold property in
Guatemala.
The company's common stock trades
on the Toronto and New York exchanges.
