By Devika Patel
Knoxville, Tenn., Aug. 11 - Eleckra Mines Ltd. said it received commitments for a A$2.47 million private placement of shares to be carried out via manager Bell Potter Securities Ltd.
The company will sell 29 million ordinary shares at A$0.085 apiece, a 15% discount to the Aug. 10 closing share price of A$0.10.
Proceeds will be used to fund gold exploration and evaluation programs at the company's Yamarna Project and for working capital.
Eleckra is a mineral exploration company based in West Perth, Australia.
| Issuer: | Eleckra Mines Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$2,465,000
|
| Shares: | 29 million
|
| Price: | A$0.085
|
| Warrants: | No
|
| Manager: | Bell Potter Securities Ltd.
|
| Pricing date: | Aug. 11
|
| Stock symbol: | Australia: EKM
|
| Stock price: | A$0.087 at close Aug. 11
|
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