Lydian will conduct $80 million private placement of ordinary shares

Deal to be conducted at same price as $25 million public stock sale

By Devika Patel

Knoxville, Tenn., Dec. 1 – Lydian International Ltd. said it plans an $80 million non-brokered private placement of ordinary stock with Orion Mine Finance and Resource Capital Funds and a $25 million public stock sale.

The sales will be conducted at the same price, with a maximum price of C$0.35 per share.

The offerings are part of a larger $325 million construction financing package negotiated with the two investors for Lydian’s Amulsar Gold Project in Armenia. The package will also consist of a $160 million term loan facility and a $25 million cost overrun facility, along with a $60 million gold and silver stream.

Lydian is a gold-focused mineral exploration and development company based in Jersey, Channel Islands.

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