By Angela McDaniels
Tacoma, Wash., May 28 - Monaro Mining NL issued 12,439,726 new ordinary shares in a private placement at A$0.085 apiece for a total of A$1.06 million.
The placement raised approximately A$1 million after costs, according to a company news release.
The placement to a group of institutional and sophisticated investors was arranged by Azure Capital Pty. Ltd.
The proceeds will be principally used to further advance the Apex-Lowboy and the Rio Puerco projects.
The deal is expected to settle Monday.
Sydney, Australia-based Monaro is an exploration and pre-development company focused on uranium.
| Issuer: | Monaro Mining NL
|
| Issue: | Ordinary shares
|
| Amount: | A$1,057,377
|
| Shares: | 12,439,726
|
| Price: | A$0.085
|
| Warrants: | No
|
| Agent: | Azure Capital Pty. Ltd.
|
| Pricing date: | May 28
|
| Settlement date: | June 1
|
| Stock symbol: | Australia: MRO
|
| Stock price: | A$0.12 at close May 27
|
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