Gold and copper explorer sells shares to San Miguel at A$0.86 apiece
By Devika Patel
Knoxville, Tenn., Oct. 8 - Indophil Resources NL said it will sell 48,016,960 ordinary shares at A$0.86 apiece in a private placement. San Miguel Corp. is the investor.
The company will raise A$41.3 million by selling the shares at a 2.27% discount to the Oct. 7 closing share price of A$0.88.
Settlement is expected Oct. 15.
Based in Melbourne, Australia, Indophil is a gold and copper-gold exploration company.
| Issuer: | Indophil Resources NL
|
| Issue: | Ordinary shares
|
| Amount: | A$41,294,586
|
| Shares: | 48,016,960
|
| Price: | A$0.86
|
| Warrants: | No
|
| Investor: | San Miguel Corp.
|
| Pricing date: | Oct. 8
|
| Settlement date: | Oct. 15
|
| Stock symbol: | Australia: IRN
|
| Stock price: | A$0.90 at close Oct. 8
|
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