Funds to be used to fast-track Blackbush Prospect, continue drilling
By Marisa Wong
Madison, Wis., Oct. 27 - UraniumSA Ltd. announced it plans to raise up to A$5 million through a placement of stock to institutional and overseas investors.
The company will sell shares at a price of A$0.25, which represents a 10.71% discount to the closing share price on Oct. 26 of A$0.28.
The placement is subject to shareholders approval at a general meeting scheduled for Nov. 29.
BGF Equities Pty. Ltd. is the bookrunner.
Proceeds will be used to fast track the company's Blackbush Prospect, continue exploration drilling of its other prospects within the Mullaquana Project area and supplement general working capital.
UraniumSA is an Adelaide-based uranium exploration company.
| Issuer: | UraniumSA Ltd.
|
| Issue: | Shares
|
| Amount: | Up to A$5 million
|
| Price: | A$0.25
|
| Warrants: | No
|
| Bookrunner: | BGF Equities Pty. Ltd.
|
| Announcement date: | Oct. 27
|
| Stock symbol: | Australia: USA
|
| Stock price: | A$0.285 at close Oct. 27
|
| Market capitalization: | A$31.69 million
|
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