Lachlan Star announces plans for private placement of special warrants

Dundee Securities, Salman Partners are agents; deal funds exploration

By Devika Patel

Knoxville, Tenn., Aug. 3 - Lachlan Star Ltd. said it has hired agents Dundee Securities Ltd. and Salman Partners Inc. for a private placement of special warrants.

The special warrants will be convertible for free into units of one ordinary share and a half-share warrant on a one-for-one basis.

Proceeds will be used for development and exploration of the company's CMD Gold Mine in Chile and for general working capital.

Lachlan Star is a gold and copper mining company based in Perth, Australia.

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