Deal funds exploration at Carnarvon Basin projects, heritage surveys
By Devika Patel
Knoxville, Tenn., April 15 - Energia Minerals Ltd. said it has arranged a A$4.8 million private placement of stock. Southern Cross Equities Ltd. and Paterson Securities Ltd. are joint lead managers.
The company will sell 40 million ordinary shares at A$0.12 apiece. The price per share is a 25% discount to A$0.16, the April 14 closing share price.
Proceeds will be used for exploration at Energia's Carnarvon Basin projects, heritage surveys on defined drill targets, the pursuit of the granting of the uranium exploration licenses in Italy and general working capital.
The uranium exploration company is based in West Perth, Australia.
| Issuer: | Energia Minerals Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$4.8 million
|
| Units: | 40 million
|
| Price: | C$0.12
|
| Warrants: | No
|
| Managers: | Southern Cross Equities Ltd. and Paterson Securities Ltd. (joint leads)
|
| Pricing date: | April 15
|
| Stock symbol: | Australia: EMX
|
| Stock price: | A$0.16 at close April 14
|
| Market capitalization: | A$9.73 million
|
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