By Devika Patel
Knoxville, Tenn., March 12 - Mantra Resources Ltd. announced it has arranged a private placement of shares for A$24 million.
The company will sell 12 million shares at A$2.00 per share to investors in Highland Park SA. Investors will also receive a one-for-three listed option.
The new shares will be sold in two tranches of 6.7 million shares and 5.3 million shares.
Proceeds will be used for exploration and development.
Based in Perth, Western Australia, Mantra is a mineral exploration company.
| Issuer: | Mantra Resources Ltd.
|
| Issue: | Shares
|
| Amount: | A$24 million
|
| Shares: | 12 million
|
| Price: | A$2.00
|
| Warrants: | No
|
| Investor: | Highland Park S.A.
|
| Pricing date: | March 12
|
| Stock symbol: | Australia: MRU
|
| Stock price: | A$2.09 at close March 12
|
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