By Marisa Wong
Milwaukee, March 15 - Chalice Gold Mines Ltd. announced that it plans to raise A$6.2 million through a private placement of shares.
Chalice will place 17.2 million shares at A$0.36 per share.
Net proceeds will be used to complete the feasibility study on the Koka deposit within the Zara Gold Project in Eritrea and for further exploration drilling at Koka East and Koka South.
The offering is expected to close March 30.
Chalice is an East African-focused gold and base minerals exploration company based in West Perth, Australia.
| Issuer: | Chalice Gold Mines Ltd.
|
| Issue: | Shares
|
| Amount: | A$6.2 million
|
| Shares: | 17.2 million
|
| Price: | A$0.36
|
| Warrants: | No
|
| Pricing date: | March 15
|
| Settlement date: | March 30
|
| Stock symbol: | Australia: CHN
|
| Stock price: | A$0.36 at close March 15
|
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