By Devika Patel
Knoxville, Tenn., Jan. 16 - Rey Resources Ltd. announced that it has completed a A$1.5 million private placement of shares.
Rey sold 10 million shares at A$0.15 apiece. One option was issued with every two shares sold. The options are exercisable at A$0.30 until March 31, 2010.
Proceeds will be used for drilling and general working capital purposes.
Rey is a Sydney, Australia-based company engaged in resources exploration and mineral project evaluation.
| Issuer: | Rey Resources Ltd.
|
| Issue: | Stock
|
| Amount: | A$1.5 million
|
| Shares: | 10 million
|
| Price: | A$0.15
|
| Options: | One for every two shares
|
| Option expiration: | March 31, 2010
|
| Option strike price: | A$0.30
|
| Settlement date: | Jan. 16
|
| Stock symbol: | Australia: REY
|
| Stock price: | A$0.155 at close Jan. 16
|
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