By Sheri Kasprzak
New York, April 27 - Hardman Resources Ltd. said it plans to conduct a £64,600,433 private placement.
The offering includes up to 65,918,810 shares at 98p each.
JPMorgan Cazenove Ltd. and Oriel Securities Ltd. are the placement agents.
The proceeds from the deal will be used for appraisal and exploration programs, particularly in Uganda. A total of $10 million of the proceeds from the placement will be used to test for the prospectivity of different play types on its properties in Guyana by drilling two test wells.
Based in West Perth, Western Australia, Hardman is an oil and natural gas exploration company.
| Issuer: | Hardman Resources Ltd.
|
| Issue: | Stock
|
| Amount: | £64,600,433
|
| Shares: | 65,918,810
|
| Price: | 98p
|
| Warrants: | No
|
| Placement agents: | JPMorgan Cazenove Ltd. and Oriel Securities Ltd.
|
| Pricing date: | April 27
|
| Stock symbol: | London: HNR
|
| Stock price: | 100.5p at close April 26
|
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