BOUGHT DEAL: Inmet raises $300 million

TORONTO — Base metal miner Inmet is raising $348 million through an equity bought deal underwritten by Credit Suisse (Canada) and CIBC World Markets. The underwriters have agreed to purchase approximately 7.8 million Inmet common shares at a price of $44.50 per share. There is also an overallotment option allowing them to purchase up to 15% more shares at the same price.

The offering is scheduled to close on or about June 25, 2009, pending regulatory approval.

Inmet plans to use the net proceeds of the offering for the repayment of debt incurred during the development of the Las Cruces copper mine in Spain. The project has a capacity of 72,000 tonnes of copper per year. The first cathodes were produced earlier this month.

Inmet owns 75% of the Las Cruces mine. More information is posted at www.InmetMining.com.