By Laura Lutz
Des Moines, Nov. 10 - Scimitar Resources Ltd. arranged a private placement for up to A$2.5 million.
The company plans to issue up to 5 million ordinary shares at A$0.50 each.
Montagu Corporate Ltd. will act as manager for the placement.
Settlement is expected on Nov. 30.
Proceeds will be used for exploration of the company's uranium assets.
Scimitar is a uranium exploration company based in West Perth, Australia.
| Issuer: | Scimitar Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$2.5 million
|
| Shares: | 5 million
|
| Price: | A$0.50
|
| Warrants: | No
|
| Agent: | Montagu Corporate Ltd.
|
| Pricing date: | Nov. 10
|
| Settlement date: | Nov. 30
|
| Stock symbol: | Australia: SIM
|
| Stock price: | A$0.57 at close Nov. 10
|
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