By Sheri Kasprzak
Atlanta, March 4 - Frontier Mining Ltd. said it has closed a private placement of stock for £4,375,000.
The company sold 17.5 million shares at 25p each to institutional investors.
The offering is conditional upon admission of the shares for trading on the London Stock Exchange's AIM exchange. The company expects that the admission will take place March 10.
Based in London, Frontier is a mineral exploration and development company. It plans to use the proceeds from the deal for a feasibility study on a copper/gold trend.
| Issuer: | Frontier Mining Ltd.
|
| Issue: | Stock
|
| Amount: | £4,375,000
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| Shares: | 17.5 million
|
| Price: | 25p
|
| Warrants: | No
|
| Settlement date: | March 4
|
| Stock price: | 26p at close March 3
|
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