By Sheri Kasprzak
New York, March 30 - Resource Pacific Holdings Ltd. has settled the first tranche of a A$50,002,000 private placement for A$21,562,500.
The company issued 18.75 million shares at A$1.15 each to institutional investors in Australia and abroad.
The second tranche, for A$28,439,500, is expected to close in May.
Proceeds from the offering will be used for the development of the company's Longwell mine.
Cartesian Capital is the placement agent.
Based in Sydney, Australia, Resource Pacific Holdings is a coal exploration company.
| Issuer: | Resource Pacific Holdings Ltd.
|
| Issue: | Stock
|
| Amount: | A$50,002,000
|
| Shares: | 43.48 million
|
| Price: | A$1.15
|
| Warrants: | No
|
| Placement agent: | Cartesian Capital
|
| Announcement date: | March 30
|
| Stock symbol: | Australia: RSP
|
| Stock price: | A$1.18 at close March 30
|
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