By Jennifer Chiou
New York, Oct. 17 - Rey Resources Ltd. announced plans to issue A$1.6 million of shares in a private placement.
Rey intends to sell 10 million shares at A$0.16 apiece.
Proceeds will be used for drilling at the Canning Basin Coal Project and for general working capital.
Rey is a Sydney, Australia-based company engaged in resources exploration and mineral project evaluation.
| Issuer: | Rey Resources Ltd.
|
| Issue: | Stock
|
| Amount: | A$1.6 million
|
| Shares: | 10 million
|
| Price: | A$0.16
|
| Announcement date: | Oct. 17
|
| Stock symbol: | Australia: REY
|
| Stock price: | A$0.15 at close Oct. 17
|
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