Company raises funds to bring the North Royal open pit into production
By Devika Patel
Knoxville, Tenn., Feb. 16 - Norseman Gold plc said it completed a private placement of shares. It raised £10 million.
The company sold 22,222,222 ordinary shares at 45p each. The price per share is a 4.26% discount to the Feb. 15 closing share price of 47p.
Proceeds will be used to bring the North Royal open pit into production and provide additional working capital.
Based in London, Norseman is a gold production company.
| Issuer: | Norseman Gold plc
|
| Issue: | Ordinary shares
|
| Amount: | £10 million
|
| Shares: | 22,222,222
|
| Price: | 45p
|
| Warrants: | No
|
| Settlement date: | Feb. 16
|
| Stock symbol: | London: NGL
|
| Stock price: | 45.5p at close Feb. 16
|
| Market capitalization: | £90.41 million
|
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