Deal with investor China Kings Industry has already raised A$500,000
By Devika Patel
Knoxville, Tenn., Feb. 16 - Zamia Metals Ltd. said it arranged a A$1 million private placement of shares with investor China Kings Industry Pty Ltd. The company has already raised A$500,000.
The company will sell 14,285,714 ordinary shares at A$0.07 per share and 7,142,857 share options to China Kings. The price per share represents a 75% premium to the A$0.04 closing share price on Feb. 15.
The options are exercisable at A$0.105 until Jan. 30, 2014. The strike price is a 162.5% premium to the Feb. 15 closing price.
In the first tranche, the investor bought 7,142,857 shares and 3,571,428 options. Settlement of the second and final tranche is expected Feb. 23.
Based in Sydney, Australia, Zamia explores primarily for molybdenum and gold.
| Issuer: | Zamia Metals Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$1 million
|
| Shares: | 14,285,714
|
| Price: | A$0.07
|
| Options: | 7,142,857
|
| Option expiration: | Jan. 30, 2014
|
| Option strike price: | A$0.105
|
| Investor: | China Kings Industry Pty Ltd.
|
| Settlement date: | Feb. 16 (for A$500,000), Feb. 23
|
| Stock symbol: | Australia: ZGM
|
| Stock price: | A$0.04 at close Feb. 15
|
| Market capitalization: | A$7.75 million
|
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