By Devika Patel
Knoxville, Tenn., Dec. 13 - Navigator Resources Ltd. said it will conduct a A$5.04 million private placement of stock.
The company will sell 6 million shares at A$0.84 each.
Sydney-based Taurus Resources Fund will buy 4.5 million of the shares for A$3.78 million.
Proceeds will be used for drilling and resource expansion, feasibility studies and working capital.
Navigator Resources is a West Perth, Western Australia-based precious and base metals exploration company.
| Issuer: | Navigator Resources Ltd.
|
| Issue: | Shares
|
| Amount: | A$5.04 million
|
| Shares: | 6 million
|
| Price: | A$0.84
|
| Warrants: | No
|
| Investor: | Taurus Resources Fund (for 4.5 million shares, or A$3.78 million)
|
| Pricing date: | Dec. 13
|
| Stock symbol: | Australia: NAV
|
| Stock price: | A$0.91 at close Dec. 13
|
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