By Devika Patel
Knoxville, Tenn., Oct. 18 - Goldbelt Resources Ltd. and Wega Mining ASA jointly announced that Wega plans to acquire all outstanding Goldbelt shares for C$114 million. The companies also said that Goldbelt will conduct a private placement of shares for C$14 million.
The company will sell 16,000,000 common shares to Wega at C$0.875 apiece.
Wega is buying the outstanding shares at C$1.55 each.
Goldbelt Resources is a Toronto mining company.
| Issuer: | Goldbelt Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$14 million
|
| Shares: | 16,000,000
|
| Price: | C$0.875
|
| Warrants: | No
|
| Investor: | Wega Mining ASA
|
| Pricing date: | Oct. 18
|
| Stock symbol: | Toronto: GLD
|
| Stock price: | C$1.16 at close Oct. 17
|
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