By Devika Patel
Knoxville, Tenn., March 3 - Norseman Gold plc said it will raise £5 million in a private placement of shares.
The company will sell 62.5 million shares at 8p apiece.
Proceeds will be used to redeem the company's A$15 million in convertible loan notes for A$10 million.
Based in London, Norseman is a gold production company.
| Issuer: | Norseman Gold plc
|
| Issue: | Shares
|
| Amount: | £5 million
|
| Shares: | 62.5 million
|
| Price: | 8p
|
| Warrants: | No
|
| Pricing date: | March 4
|
| Stock symbol: | London: NGL
|
| Stock price: | 8.7p at close March 4
|
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