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Major Drilling Announces Closing of the Over-Allotment Option in Connection with it’s Public Offering of Common Shares

By October 25, 2011No Comments

MONCTON, New Brunswick (October 25, 2011) – Major Drilling Group International Inc. (“Major Drilling” or the “Corporation”) (TSX: MDI) is pleased to announce that it has closed the full amount of the over-allotment option (the “Over-Allotment”) granted to the syndicate of underwriters led by TD Securities Inc. and including Scotia Capital Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Beacon Securities Limited., Jennings Capital Inc. and Salman Partners Inc. (the “Underwriters”). Pursuant to the Over-Allotment, the Underwriters elected to purchase an additional 885,000 common shares of the Corporation at a price of $11.90 per common share, for aggregate proceeds of $10,531,500. The Over-Allotment option was granted to the Underwriters in connection with a previously announced offering of subscription receipts of the Corporation which were exchanged for common shares on the closing of the acquisition of Bradley Group Limited on September 30, 2011.

Closing of the Over-Allotment Option (Press Release)