By Laura Lutz
Des Moines, Aug. 28 - Mirabela Nickel Ltd. settled two previously announced private placements for a combined A$11.25 million.
In total, the company sold 9 million shares at A$1.25 million each.
The first placement, for 6 million shares, priced Aug. 18.
A second placement, announced as an issue of 3.8 million shares on Aug. 23, was reduced to 3 million shares.
The second placement included one million shares purchased by Inco Ltd. in exercise of its right to participate in 10% of share issues by Mirabela.
The proceeds will be used for drilling, exploration, a feasibility study, a grinding circuit and major infrastructure at the company's Santa Rita project.
Mirabela is a Brazil-focused base metals exploration company with headquarters in West Perth, Western Australia.
First placement
| Issuer: | Mirabela Nickel Ltd.
|
| Issue: | Stock
|
| Amount: | A$7.5 million
|
| Shares: | 6 million
|
| Price: | A$1.25
|
| Settlement date: | Aug. 28
|
| Stock symbol: | Australia: MBN
|
| Stock price: | A$1.68 at close on Aug. 28
|
|
|
| Second placement
|
| Issuer: | Mirabela Nickel Ltd.
|
| Issue: | Stock
|
| Amount: | A$3.75 million
|
| Shares: | 3 million
|
| Price: | A$1.25
|
| Investor: | Inco Ltd. (for one million shares)
|
| Settlement date: | Aug. 28
|
| Stock symbol: | Australia: MBN
|
| Stock price: | A$1.68 at close on Aug. 28
|
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