By Devika Patel
Knoxville, Tenn., May 22 - Legend International Holdings, Inc. said it has arranged a $100 million private placement of stock.
The company will sell 40 million shares at $2.50 apiece.
The deal will be conducted by BMO Capital Markets.
Proceeds will be used to advance the ongoing development of the company's phosphate projects in the Georgina Basin in the Mount Isa region of Queensland, Australia.
Based in Melbourne, Australia, Legend acquires and operates diamond interests in Australia.
| Issuer: | Legend International Holdings, Inc.
|
| Issue: | Stock
|
| Amount: | $100 million
|
| Shares: | 40 million
|
| Price: | $2.50
|
| Warrants: | No
|
| Agent: | BMO Capital Markets
|
| Pricing date: | May 22
|
| Stock symbol: | OTCBB: LGDI
|
| Stock price: | $2.97 at close May 21
|
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