By Susanna Moon
Chicago, Oct. 12 - Focus Minerals Ltd. said it has arranged an A$8.25 million private placement of stock.
The company will sell 206.4 million shares at 4 cents each to institutional clients of Sydney, Australia-based Petra Capital.
Proceeds will be used to acquire crucial spare parts for Focus' refurbished Three Mile Hill mill.
Based in Perth, Western Australia, Focus is a gold, nickel and other base metal mining and exploration company.
| Issuer: | Focus Minerals Ltd.
|
| Issue: | Stock
|
| Amount: | A$8.25 million
|
| Shares: | 206.4 million
|
| Price: | A$0.04
|
| Warrants: | No
|
| Pricing date: | Oct. 11
|
| Stock symbol: | Australia: FML
|
| Stock price: | A$0.05 at close Oct. 12
|
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