By Sheri Kasprzak
New York, Dec. 15 - Ridge Mining plc said it has secured £4,858,720 from a private placement with institutional and other investor.
The company sold 15,183,500 shares at 32p each.
Proceeds from the offering will be used for ongoing exploration and development on the company's platinum group metal projects in South Africa and for working capital.
Ambrian Partners Ltd. and RBC Capital Markets were the placement agents for the deal.
Based in London, Ridge is a mineral exploration company.
| Issuer: | Ridge Mining plc
|
| Issue: | Stock
|
| Amount: | £4,858,720
|
| Shares: | 15,183,500
|
| Price: | 32p
|
| Warrants: | No
|
| Placement agents: | Ambrian Partners Ltd. and RBC Capital Markets
|
| Settlement date: | Dec. 15
|
| Stock price: | 30.1p at close Dec. 14
|
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