By Susanna Moon
Chicago, July 2 - View Resources Ltd. said it plans to sell A$26 million in a private placement of stock to institutions and sophisticated investors.
The company will place 65 million shares at A$0.40 each.
View will sell the stock in two tranches, one of A$13.9 million and one, subject to shareholder approval at a meeting on Aug. 6, of A$12.1 million.
A further A$4 million will come from a sale of 10 million shares at the same price to retail investors.
Proceeds from the sale will be used for development, working capital, exploration and debt reduction.
View is a nickel and gold mining company based in Perth, Australia.
Issuer View Resources Ltd.
| Issue: | Stock
|
| Amount: | A$26 million
|
| Shares: | 65 million
|
| Price: | A$0.40
|
| Warrants: | No
|
| Pricing date: | July 2
|
| Stock symbol: | Australia: VRE
|
| Stock price: | $0.42 at close July 2
|
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