Proceeds used for Simandou South iron ore project, investments
By Toni Weeks
San Diego, June 20 - International Mining and Infrastructure Corp. plc completed a £10 million non-brokered private placement of shares, according to a company filing with the London Stock Exchange.
The company sold 50 million ordinary shares at 20p each. The price is a 21.57% discount to the closing share price of 25.5p on June 20.
International Mining's strategic partner, African Iron Ore Group Ltd., invested £500,000.
Proceeds will be used for strategic investments in target junior miners, the company's obligations related to the Simandou South iron ore project in Guinea and ongoing 2012 operating and fundraising costs.
Based in London, International Mining targets investments or acquires interests in projects or companies with a focus on mining and related infrastructure.
| Issuer: | International Mining and Infrastructure Corp. plc
|
| Issue: | Common stock
|
| Amount: | £10 million
|
| Shares: | 50 million
|
| Price: | 20p
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | African Iron Ore Group Ltd. (for £500,000)
|
| Settlement date: | June 20
|
| Stock symbol: | London: IMIC
|
| Stock price: | 25.5 p at close June 20
|
| Market capitalization: | £1.14 million
|
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