Offering finances exploration and resource definition, working capital
By Devika Patel
Knoxville, Tenn., Nov. 28 - Elemental Minerals Ltd. said it completed a A$14.07 million private placement of stock. The deal was announced Nov. 20, priced for A$14 million on Nov. 21 and was conducted by BMO Capital Markets, Renaissance Securities (Cyprus) Ltd. and National Bank Financial Inc.
The company sold 36,542,142 shares at A$0.385 per share, a 1.28% discount to A$0.39, the closing share price on Nov. 20.
Proceeds will be used for study costs, exploration and resource definition, working capital and general corporate purposes.
Elemental is a potash resources explorer in Perth, Australia.
| Issuer: | Elemental Minerals Ltd.
|
| Issue: | Shares
|
| Amount: | A$14,068,725
|
| Shares: | 36,542,142
|
| Price: | A$0.385
|
| Warrants: | No
|
| Agents: | BMO Capital Markets, Renaissance Securities (Cyprus) Ltd. and National Bank Financial Inc.
|
| Announcement date: | Nov. 20
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 28
|
| Stock symbol: | Australia: ELM
|
| Stock price: | A$0.39 at close Nov. 20
|
| Market capitalization: | A$97.45 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
