By Devika Patel
Knoxville, Tenn., June 11 - Exco Resources Ltd. said it will raise A$7.2 million in a private placement of shares.
The company will sell about 30.6 million shares at A$0.235 per share.
The offering will be managed by Stripe Capital Pty Ltd. Exco's largest shareholder, Ivanhoe Australia Pty Ltd., will participate in the deal.
Proceeds will be used for development of the White Dam Gold Project.
Exco, based in West Perth, Western Australia, explores and develops mineral interests.
| Issuer: | Exco Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$7.2 million
|
| Shares: | 30.6 million (approximate)
|
| Price: | A$0.235
|
| Warrants: | No
|
| Manager: | Stripe Capital Pty Ltd.
|
| Investor: | Ivanhoe Australia Pty Ltd.
|
| Pricing date: | June 11
|
| Stock symbol: | Australia: EXS
|
| Stock price: | A$0.28 at close June 11
|
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