Capital Markets Canada, underwriting syndicate help finance gold mine
By Devika Patel
Knoxville, Tenn., March 8 - Lachlan Star Ltd. said it arranged a C$17.6 million private placement of stock through a syndicate of underwriters led by Capital Markets Canada Ltd. and including Dundee Securities Ltd., Raymond James Ltd. and GMP Securities LP.
The company will sell 11 million common shares at C$1.60 per share on a bought-deal basis. The price per share reflects a 4.19% discount to the March 7 closing share price of C$1.67.
Settlement is expected April 3.
Proceeds will be used for the development of the CMD Gold Mine and general working capital purposes.
Lachlan Star is a gold and copper mining company based in Perth, Australia.
| Issuer: | Lachlan Star Ltd.
|
| Issue: | Common stock
|
| Amount: | C$17.6 million
|
| Shares: | 11 million
|
| Price: | C$1.60
|
| Warrants: | No
|
| Agents: | Capital Markets Canada Ltd. (lead), Dundee Securities Ltd., Raymond James Ltd. and GMP Securities LP
|
| Pricing date: | March 8
|
| Settlement date: | April 3
|
| Stock symbol: | Toronto: LSA
|
| Stock price: | C$1.67 at close March 7
|
| Market capitalization: | C$131.14 million
|
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