Proceeds to develop more resources, increase production at Mt. Morgans
By Marisa Wong
Madison, Wis., Nov. 8 - Range River Gold Ltd. said it completed a placement of ordinary shares to sophisticated and professional investors to raise A$4.5 million.
The company sold 250 million ordinary shares at A$0.018 per share, which represents an 18.8% discount to the five-day volume weighted average price for the five trading days ended Nov. 2.
Patersons Securities Ltd. is the lead manager.
Eligible shareholders will have the opportunity to participate in a partially underwritten share purchase plan. The issue price under the share purchase plan is the same as the issue price of the placement.
Proceeds from the placement will be used to develop additional resources and increase production at Mt. Morgans in Western Australia.
Range River is a Melbourne, Australia-based gold producer.
| Issuer: | Range River Gold Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$4.5 million
|
| Shares: | 250 million
|
| Price: | A$0.018
|
| Warrants: | No
|
| Bookrunner: | Patersons Securities Ltd.
|
| Settlement date: | Nov. 8
|
| Stock symbol: | Australia: RNG
|
| Stock price: | A$0.02 at close Nov. 8
|
| Market capitalization: | A$36.29 million
|
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