El Maniel International plans private placement to raise $5 million

Institutional investors based in Ontario, Hong Kong, Tokyo and Bangkok

By Devika Patel

Knoxville, Tenn., Jan. 17 - El Maniel International, Inc. said it will raise over $5 million in a private placement with institutional financiers.

"We are very excited with the growing interest from institutional investors in our company and it is encouraging to see that our efforts in expanding our gold business is attracting new capital," chief executive officer Jamie Khoo said in a press release.

"We have been approached by several institutional funding groups based in Ontario, Hong Kong, Tokyo and Bangkok and we are weighing our options for debt-equity structured capital infusion which presents El Maniel with the flexibility to move forward with its new growth and development plans as well as its stated business objectives including but not limited to exploring new horizons under our gold business domain and addition of mining equipment so as to ramp up production capabilities," Khoo said in the release.

"We will continue seeking innovative ways to grow our company to create value for our shareholders as we remain committed to execute our business plans in 2012."

El Maniel is a gold mining company in New York.

© 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.