By Laura Lutz
Des Moines, March 13 - Rambler Metals & Mining plc secured £5.8 million from a private placement of 9.66 million ordinary shares with institutional investors.
The shares are priced at 60p each.
Ocean Equities Ltd. is the agent.
Proceeds will be used for drilling, metallurgical testing, infrastructure a pre-feasibility study and working capital.
Shareholder approval for the placement will be sought at an April 10 general meeting.
Rambler is a mineral exploration and development company based in Sutton, England.
| Issuer: | Rambler Metals & Mining plc
|
| Issue: | Ordinary shares
|
| Amount: | £5,796,000
|
| Shares: | 9.66 million
|
| Price: | 60p
|
| Warrants: | No
|
| Agent: | Ocean Equities Ltd.
|
| Settlement date: | March 13
|
| Stock symbol: | London: RMM
|
| Stock price: | 61.25p at close March 13
|
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