By Sheri Kasprzak
New York, July 18 - Tanami Gold NL intends to raise A$15 million in a private placement through agent Hartleys Ltd.
The offering includes 60 million shares at A$0.25 each to international and domestic institutional investors.
Proceeds will be used to develop the Coyote gold mine and to fund additional exploration. The remainder will be used for working capital.
Based in West Perth, Western Australia, Tanami is a gold exploration company.
| Issuer: | Tanami Gold NL
|
| Issue: | Stock
|
| Amount: | A$15 million
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| Shares: | 60 million
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| Price: | A$0.25
|
| Warrants: | No
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| Placement agent: | Hartleys Ltd.
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| Pricing date: | July 18
|
| Stock symbol: | Australia: TAM
|
| Stock price: | A$0.265 at close July 18
|
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