SEMAFO Inc. Completes C$120 Million Bought Deal Offering

June 2010

SEMAFO completed a bought deal public offering of common shares for aggregare gross proceeds of C$120 million. The underwriters, led by Jennings Capital Inc., CIBC World Markets Inc. and Macquarie Capital Markets Canada Ltd., and including BMO Capital Markets, National Bank Financial Inc., Haywood Securities Inc., Clarus Securities Inc. and Scotia Capital Inc., elected to fully exercise their over-allotment option, resulting in a total of 17,250,000 common shares being issued.

SEMAFO was represented by Lang Michener with a team that included Hellen Siwanowicz and David Mendicino (Corporate and Canadian Securities), Herb Ono (U.S. Securities), and Paul Carenza (Tax).