By Devika Patel
Knoxville, Tenn., Dec. 14 - Malachite Resources NL said it will raise A$5.7 million in a private placement of shares.
The company will sell 19 million ordinary shares at A$0.30 each.
Cartesian Capital Pty Ltd. is the agent for the deal, which will settle Dec. 18.
Proceeds will be used for resource delineation drilling and economic assessment at the company's Conrad Silver project.
Based in Lindfield, Australia, Malachite Resources is a gold, silver, copper and tin exploration company.
| Issuer: | Malachite Resources NL
|
| Issue: | Ordinary shares
|
| Amount: | A$5.7 million
|
| Shares: | 19 million
|
| Price: | A$0.30
|
| Warrants: | No
|
| Agent: | Cartesian Capital Pty Ltd.
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 18
|
| Stock symbol: | Australia: MAR
|
| Stock price: | A$0.305 at close Dec. 14
|
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