Proceeds used to develop epithermal gold-silver deposits in Argentina
By Devika Patel
Knoxville, Tenn., Dec. 19 - Mariana Resources Ltd. said it has raised £5.44 million in a private placement of shares. Mariana paid a finders' fee to RFC Corporate Finance Ltd. for the deal, which priced Nov. 17.
The company sold 45,418,212 shares to AngloGold Ashanti Holdings plc. Of the shares, 45 million were sold at 12p per share and the remaining 418,212 were sold at 9.41p per share. The prices per share are 45.46% and 14.06% premiums to the Nov. 16 closing share price of 8.25p.
Proceeds will be used to develop epithermal gold-silver deposits in the Deseado Massif, Santa Cruz Province in Patagonia, Argentina.
Mariana Resources is a St Leonards, Australia-based gold and copper exploration company engaged in acquiring prospects in Ecuador, Chile, Argentina and other selected parts of South America.
| Issuer: | Mariana Resources Ltd.
|
| Issue: | Shares
|
| Amount: | £5,439,354
|
| Shares: | 45,418,212
|
| Price: | 12p (for 45 million shares), 9.41p (for 418,212 shares)
|
| Investor: | AngloGold Ashanti Holdings plc
|
| Pricing date: | Nov. 17
|
| Settlement date: | Dec. 19
|
| Stock symbol: | London: MARL
|
| Stock price: | 10.83p at close Nov. 17
|
| Market capitalization: | £18.15 million
|
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