October 22, 2007
Glencairn Gold Corporation completed a private placement financing for gross proceeds of $26,050,500 with a syndicate of underwriters led by Orion Securities Inc. and including Dundee Securities Corporation, Blackmont Capital Inc. and Wellington West Capital Markets Inc. Pursuant to the offering, the underwriters purchased 40,000,000 units and 133,670,000 subscription receipts at a price of $0.15 per unit or subscription receipt. Each unit is comprised of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one common share at a price of $0.18 until October 22, 2010.
Wildeboer Dellelce LLP acted for the underwriters in connection with the offering with a team that included Derek Sigel, Sanjeev Patel and Darryl Holyday (corporate/securities).