By Sheri Kasprzak
New York, Jan. 30 - Iberian Resources Ltd. said it has concluded a A$10.2 million private placement.
The company issued 17 million shares at A$0.60 each to institutional investors.
Iberian's shareholders must approve the issuance of 7.4 million of the shares.
KTM Capital was the placement agent.
Proceeds will be used to re-commission and explore the company's Lichkvaz gold project.
Based in West Perth, Western Australia, Iberian is a gold exploration and development company.
| Issuer: | Iberian Resources Ltd.
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| Issue: | Stock
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| Amount: | A$10.2 million
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| Shares: | 17 million
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| Price: | A$0.60
|
| Warrants: | No
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| Placement agent: | KTM Capital
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| Settlement date: | Jan. 30
|
| Stock symbol: | Australia: IBR
|
| Stock price: | A$0.71 at close Jan. 30
|
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