By Sheri Kasprzak
New York, April 13 - Atlas Iron Ltd. has concluded a A$3,825,000 private placement with Merrill Lynch Natural Resources Fund.
The fund purchased 8.5 million shares at A$0.45 each. The price per share presents a 3.2% premium over the 30-day volume weighted average price of the company's stock.
Bell Potter Securities was the placement agent.
The proceeds will be used to accelerate Atlas's drilling and resource definition programs.
Based in West Perth, Western Australia, Atlas is an iron ore exploration company.
| Issuer: | Atlas Iron Ltd.
|
| Issue: | Stock
|
| Amount: | A$3,825,000
|
| Shares: | 8.5 million
|
| Price: | $0.45
|
| Warrants: | No
|
| Placement agent: | Bell Potter Securities
|
| Investor: | Merrill Lynch Natural Resources Fund
|
| Settlement date: | April 13
|
| Stock symbol: | Australia: ATP
|
| Stock price: | A$0.315 at close April 13
|
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