Deal's proceeds used to implement the bulk x-ray plant at Saxendrift
By Devika Patel
Knoxville, Tenn., Oct. 19 - Rockwell Diamonds Inc. said it raised C$7.58 million and ZAR1.21 million in a private placement of stock.
The company sold 10,341,969 common shares. Of the shares sold, 10,112,017 were sold in Canada at C$0.75 per share, with the balance of 229,952 shares sold in South Africa at a price of R5.25 per share.
The price per Canadian share is a 25% premium to the closing share price on Oct. 18, C$0.60.
Daboll Consultants Ltd. invested C$5 million.
Proceeds will be used to implement the bulk x-ray plant at Saxendrift, as well as the final commissioning of the plant at Tirisano, which is set to go into production by the end of October. The remaining funds will be used to settle the Tirisano creditors and exploration and project development work.
Rockwell is a diamond exploration company based in Vancouver, B.C.
| Issuer: | Rockwell Diamonds Inc.
|
| Issue: | Common shares
|
| Amount: | C$7,584,013, ZAR1,207,248
|
| Shares: | 10,341,969
|
| Price: | C$0.75 (for 10,112,017 shares), ZAR5.25 (for 229,952 shares)
|
| Warrants: | No
|
| Investor: | Daboll Consultants Ltd. (for C$5 million)
|
| Settlement date: | Oct. 19
|
| Stock symbol: | Toronto: RDI
|
| Stock price: | C$0.60 at close Oct. 18
|
| Market capitalization: | C$19.6 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
