By Laura Lutz
Des Moines, Sept. 7 - Exco Resources NL arranged a A$1.6 million private placement of 8 million ordinary shares at A$0.20 each with institutional and sophisticated investors.
Macquarie Bank Ltd., Stripe Capital Pty. Ltd., Taylor Collison Ltd. and RMB Resources Ltd. will be underwriters for the deal.
The proceeds will be used for the company's White Dam gold and Cloncurry copper projects.
Following the placement, the company has 176,463,625 shares outstanding.
Exco is a gold and copper company based in West Perth, Western Australia.
| Issuer: | Exco Resources NL
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| Issue: | Stock
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| Amount: | A$1.6 million
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| Shares: | 8 million
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| Price: | A$0.20
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| Warrants: | No
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| Underwriters: | Macquarie Bank Ltd., Stripe Capital Pty. Ltd., Taylor Collison Ltd. and RMB Resources Ltd.
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| Settlement date: | Sept. 7
|
| Stock symbol: | Australia: EXS
|
| Stock price: | A$0.265 at close on Sept. 7
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