Proceeds used for drilling of Northern Block exploration properties
By Devika Patel
Knoxville, Tenn., Feb. 3 - Nyota Minerals Ltd. said it has negotiated a private placement of shares to raise about £9.66 million. Centamin plc will participate.
The company will sell 161 million ordinary shares. Of the shares, 146.72 million will be sold in the United Kingdom at 6p each, with the remaining 14.28 million sold at A$0.089 in Australia.
The U.K. per-share price is a 17.24% discount to the Feb. 2 closing share price of 7.25p. The Australian per-share price is a 25.83% discount to the Feb. 2 closing share price of A$0.12.
Proceeds will be used for exploration drilling of the Northern Block exploration properties, to progress the Tulu Kapi project and to provide corporate working capital beyond June 2012.
Based in West Perth, Australia, Nyota Minerals is a gold explorer.
| Issuer: | Nyota Minerals Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £9.66 million (approximate)
|
| Shares: | 161 million
|
| Prices: | 6p (for 146.72 million shares), A$0.089 (for 14.28 million shares)
|
| Warrants: | No
|
| Investor: | Centamin plc (for 67 million shares)
|
| Pricing date: | Feb. 3
|
| Stock symbol: | London: NYO, Australia: NYO
|
| Stock price: | 7.25p, A$0.12 at close Feb. 2
|
| Market capitalization: | £34.65 million, A$51.09 million
|
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