By Devika Patel
Knoxville, Tenn., Feb. 26 - Archipelago Resources plc said it took in £30.9 million in an oversubscribed private placement of shares.
The company sold 102 million ordinary shares at 30p each.
Bell Potter Securities (Australia) and Ambrian Partners Ltd. were the joint lead brokers of a syndicate that included Scarsdale Equities LLC.
Proceeds will be used to finance the Toka Tindung Gold Project.
Archipelago is a London-based mineral exploration company.
| Issuer: | Archipelago Resources plc
|
| Issue: | Ordinary shares
|
| Amount: | £30.9 million
|
| Shares: | 102 million
|
| Price: | 30p
|
| Warrants: | No
|
| Brokers: | Bell Potter Securities (Australia) and Ambrian Partners Ltd. (joint lead brokers), Scarsdale Equities LLC
|
| Settlement date: | Feb. 26
|
| Stock symbol: | London: AR
|
| Stock price: | 31p at close Feb. 26
|
| Market capitalization: | £117 million
|
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