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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 14, 1996
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GLAMIS GOLD LTD.
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(Exact name of registrant as specified in its charter)
British Columbia, Canada
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(State or other jurisdiction of incorporation)
0-31986 (86-689) None
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(Commission File Number) (IRS Employer Identification No.)
3324 Four Bentall Centre, 1055 Dunsmuir Street, Vancouver, B.C., V7X 1L3
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(Address of principal executive officers) (Zip Code)
Registrant's telephone number, including area code (604) 681-3541
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n/a
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(Former name or former address, if changed since last report)
Exhibit begins on Page 4
Page 1 of 4 Pages
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ITEM 5: OTHER EVENTS
By news release dated November 14, 1996, a copy of which is attached
hereto as Exhibit 99, the Registrant announced the sale of 4,500,000
Common shares to a syndicate of Canadian Underwriters at a price of
U.S.$7.30 per share to raise U.S.$32,850,000. In addition the
Underwriters have an option, to be exercised by 1:00 pm in Vancouver,
British Columbia on November 18, 1996, to acquire an additional
500,000 Common shares at the same price. The Common shares will be
qualified for sale in Canada through a prospectus filed with the
various provincial regulatory bodies.
The common shares being offered have not been and will not be
registered under the United States Securities Act of 1933, as amended,
or states securities laws, and, subject to certain exceptions, may not
be offered or sold in the United States or to U.S. persons.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GLAMIS GOLD LTD.
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(Registrant)
November 14, 1996
/s/ G. Barry Finlayson
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G. BARRY FINLAYSON
Secretary
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EXHIBIT 99
NEWS RELEASE
GLAMIS GOLD LTD.
FOR IMMEDIATE RELEASE
Trading Symbol: TSE, NYSE - GLG November 14, 1996
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U.S. $32,850,000 OFFERING OF COMMON SHARES
Vancouver, B.C., Canada - Glamis Gold Ltd. has entered into an underwriting
agreement with a syndicate of Canadian underwriters under which they have
agreed to buy, and sell to the public 4,500,000 common shares for a purchase
price of U.S.$7.30 per share. There is also an option for the further sale of
an additional 500,000 shares on the same terms. The closing of the sale of the
common shares is to occur on or about December 5, 1996. The common shares
being offered for sale have not been and will not be registered under the
United States Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable exemption from
such registration requirements.
Approximately U.S.$8,400,000 of the net proceeds realized from the offering
will be used to repay bank indebtedness which was incurred to fund Glamis' Rand
Mine Optimization Program and the balance will be used to partially fund the
placing of Glamis' Imperial Project into commercial production.
Glamis is a low-cost gold producer whose shares are listed on the Toronto and
New York Stock Exchanges.
On Behalf of the Board of Directors
/s/ J.R. Billingsley
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J.R. Billingsley
Vice President, Administration
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For further information contact:
Glamis Gold Ltd.
P.O. Box 49287
Vancouver, B.C. V7X 1L3
(604) 681-3541 * Fax: (604) 681-9306
Internet:http//www.glamis.com
