By Devika Patel
Knoxville, Tenn., Feb. 24 - Focus Minerals Ltd. said it has arranged a A$25 million private placement of stock.
The company will sell 1.25 billion shares at A$0.02 apiece.
Proceeds will be used to refurbish and modernize the company's Three Mile Hill treatment facility and for exploration and development.
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$25 million
|
| Shares: | 1.25 billion
|
| Price: | A$0.02
|
| Warrants: | No
|
| Pricing date: | Feb. 24
|
| Stock symbol: | Australia: FML
|
| Stock price: | A$0.024 at close Feb. 24
|
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