By Laura Lutz
Des Moines, Oct. 18 - International Goldfields Ltd. announced a private placement with European investors for A$3 million.
The company plans to issue 20 million shares at A$0.15 each. The placement also includes one attaching option for every two shares.
Each option will be exercisable at A$0.15 through June 30, 2009.
The placement is subject to shareholder approval at an annual general meeting on Nov. 21.
Proceeds will be used to fund a potential acquisition that is close to finalization.
International Goldfields is a gold exploration company based in Leederville, Western Australia.
| Issuer: | International Goldfields Ltd.
|
| Issue: | Shares with options
|
| Amount: | A$3 million
|
| Shares: | 20 million
|
| Price: | A$0.15
|
| Options: | 10 million
|
| Option expiration: | June 30, 2009
|
| Option strike price: | A$0.15
|
| Pricing date: | Oct. 18
|
| Stock symbol: | Australia: IGC
|
| Stock price: | A$0.165 at close on Oct. 18
|
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