By Devika Patel
Knoxville, Tenn., July 7 - Venture Minerals Ltd. said it will raise A$8 million in a private placement of shares.
The company will sell 40 million ordinary shares at A$0.20 per share in two tranches, with the first A$3 million tranche settling immediately and the remainder settling upon receipt of shareholder approval.
Blackswan Equities Pty Ltd. is the lead manager.
Proceeds will be used to advance the Mount Lindsay Project.
The West Perth, Australia, company explores for minerals.
| Issuer: | Venture Minerals Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$8 million
|
| Shares: | 40 million
|
| Price: | A$0.20
|
| Warrants: | No
|
| Manager: | Blackswan Equities Pty Ltd. (lead)
|
| Pricing date: | July 7
|
| Stock symbol: | Australia: VMS
|
| Stock price: | A$0.22 at close July 6
|
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