By Jennifer Chiou
New York, June 5 - Impact Minerals Ltd. announced that it has arranged a A$3 million private placement of shares.
The company will sell 18,668,326 new shares at A$0.1607 per share to Polo Resources Ltd., which, following the placement, will hold a 19.9% stake in Impact.
In the first stage of the arrangement, Impact will issue 11.15 million new shares to raise A$1,791,000. The remaining 7,518,326 shares for A$1,208,195 will be subject to shareholder approval at a July 16 meeting.
Proceeds will be used for investment in or acquisition and development of advanced-stage uranium mining projects.
Based in Northbridge, Western Australia, Impact was established to explore for deposits of uranium, gold and nickel
| Issuer: | Impact Minerals Ltd.
|
| Issue: | New ordinary shares
|
| Amount: | A$3 million
|
| Shares: | 18,668,326
|
| Price: | A$0.1607
|
| Investor: | Polo Resources Ltd.
|
| Warrants: | No
|
| Announcement date: | June 5
|
| Stock symbol: | Australia: IPT
|
| Stock price: | A$0.20 at close June 5
|
| Market capitalization: | A$14.95 million
|
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