By Devika Patel
Knoxville, Tenn., Aug. 5 - Mithril Resources Ltd. said it will take in A$6 million in a private placement of stock.
The company will sell 50 million ordinary shares at A$0.12 per share. Investors also will receive a 1-for-2 attaching option, exercisable at A$0.12 for two years.
The first tranche will raise A$1.21 million through an issue of 10.05 million shares. The second tranche will consist of 39.95 million shares and 25 million options for A$4.79 million.
Blackwood Capital Ltd. is the manager.
Proceeds will be used for exploration and working capital.
Mithril Resources is a Goodwood, Australia-based mining company.
| Issuer: | Mithril Resources Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | A$6 million
|
| Shares: | 50 million
|
| Price: | A$0.12
|
| Options: | 25 million options
|
| Option expiration: | Two years
|
| Option strike price: | A$0.12
|
| Manager: | Blackwood Capital Ltd.
|
| Pricing date: | Aug. 5
|
| Stock symbol: | Australia: MTH
|
| Stock price: | A$0.135 at close Aug. 5
|
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