By Sheri Kasprzak
Atlanta, April 19 - Highlands Pacific Ltd. said it has closed a private placement for A$16,506,000.
The company sold 39.3 million shares at A$0.42 each to domestic and foreign institutional investors.
ABN Amro Morgans was the placement agent in the offering.
In other news, Highlands Pacific announced it plans to offer a share purchase plan to its eligible shareholders. The company will offer up to A$5,000 in shares at A$0.42 each.
The funds from both the private placement and the share purchase plan will be used to accelerate the company's exploration on its Kainantu gold mine. The remainder will be used for working capital.
Based in Queensland, Australia, Highlands Pacific is a nickel, gold, cobalt and copper exploration company.
| Issuer: | Highlands Pacific Ltd.
|
| Issue: | Stock
|
| Amount: | A$16,506,000
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| Shares: | 39.3 million
|
| Price: | A$0.42
|
| Warrants: | No
|
| Placement agent: | ABN Amro Morgans
|
| Settlement date: | April 19
|
| Stock price: | A$0.35 at close April 19
|
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