Tinma International buys 10,403,980 ordinary shares at C$0.44 apiece
By Devika Patel
Knoxville, Tenn., March 19 - Rambler Metals and Mining plc said it completed a C$4.58 million non-brokered private placement of stock with Tinma International Ltd. The deal priced on March 6.
The company sold 10,403,980 ordinary shares at C$0.44 per share. The price per share is a 16.98% discount to the March 5 closing share price of C$0.53.
Proceeds will be used for general working capital purposes and to advance the Ming Mine's Lower Footwall Zone through a feasibility study.
The copper and gold exploration and development company is based in Sutton, England.
| Issuer: | Rambler Metals and Mining plc
|
| Issue: | Ordinary shares
|
| Amount: | C$4,577,751
|
| Shares: | 10,403,980
|
| Price: | C$0.44
|
| Warrants: | No
|
| Agents: | Non-brokered
|
| Investor: | Tinma International Ltd.
|
| Pricing date: | March 6
|
| Settlement date: | March 19
|
| Stock symbol: | TSX Venture: RAB
|
| Stock price: | C$0.53 at close March 5
|
| Market capitalization: | C$65.35 million
|
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