By Devika Patel
Knoxville, Tenn., June 1 - Forte Energy NL said it will raise A$10 million in a private placement of shares.
The company will sell 100 million ordinary shares at A$0.10 per share.
Blackwood Capital and StoneBridge Group are the managers.
Proceeds will be used to develop the company's portfolio of West African uranium projects.
Forte Energy, based in Perth, Western Australia, is an emerging uranium company.
Issuer: | Forte Energy NL
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Issue: | Ordinary shares
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Amount: | A$10 million
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Shares: | 100 million
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Price: | A$0.10
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Warrants: | No
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Managers: | Blackwood Capital and StoneBridge Group
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Pricing date: | June 1
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Stock symbol: | Australia: FTE
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Stock price: | A$0.11 at close June 1
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