By Susanna Moon
Chicago, July 2 - Aviva Corp. Ltd. said it plans to issue A$2.8 million in a private placement of stock to institutional and sophisticated investors.
The company will place 8 million shares at A$0.35 each.
Proceeds from the sale will be used for drilling and exploration and for working capital.
Aviva is a an energy assets company based in Perth, Australia.
Issuer Aviva Corp. Ltd.
| Issue: | Stock
|
| Amount: | A$2.8 million
|
| Shares: | 8 million
|
| Price: | A$0.35
|
| Warrants: | No
|
| Announcement date: | July 2
|
| Stock symbol: | Australia: AVA
|
| Stock price: | A$0.40 at close July 2
|
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