By Laura Lutz
Des Moines, Nov. 6 - Vital Metals Ltd. completed a private placement for A$4.41 million.
The company sold 10.5 million ordinary shares to institutional and sophisticated investors at A$0.42 per share.
Melbourne Capital Ltd. was the lead manager for the deal.
Proceeds will be used for the feasibility study of the company's Watershed tungsten project and for general working capital.
Vital Metals is a tungsten and molybdenum producer based in Subiaco, Australia.
| Issuer: | Vital Metals Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$4.41 million
|
| Shares: | 10.5 million
|
| Price: | A$0.42
|
| Warrants: | No
|
| Manager: | Melbourne Capital Ltd. (lead)
|
| Settlement date: | Nov. 6
|
| Stock symbol: | Australia: VML
|
| Stock price: | A$0.48 at close Nov. 6
|
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