By Devika Patel
Knoxville, Tenn., Feb. 17 - Magnetic Resources NL said it has reached an agreement for a A$1.5 million private placement of shares.
The company will sell 3.7 million ordinary shares at A$0.40 apiece.
Proceeds will be used for exploration.
The uranium, gold and iron ore explorer is based in West Perth, Australia.
| Issuer: | Magnetic Resources NL
|
| Issue: | Ordinary shares
|
| Amount: | A$1.5 million
|
| Shares: | 3.7 million
|
| Price: | A$0.40
|
| Warrants: | No
|
| Pricing date: | Feb. 17
|
| Stock symbol: | Australia: MAU
|
| Stock price: | A$0.52 at close Feb. 17
|
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