By Devika Patel
Knoxville, Tenn., Nov. 8 - Goldbelt Resources Ltd. said it has completed the first tranche of a C$14 million private placement of shares, raising C$6.3 million.
The deal priced on Oct. 18, when Wega Mining ASA said it would buy all outstanding Goldbelt shares for C$1.55 per share in cash.
In this tranche, Goldbelt sold 7 million shares to Wega on Nov. 7. As previously reported, the company plans to sell a total of 16 million common shares to Wega at C$0.90 apiece.
Goldbelt Resources is a Toronto mining company.
| Issuer: | Goldbelt Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | $14 million
|
| Shares: | 16 million
|
| Price: | C$0.90
|
| Warrants: | No
|
| Investor: | Wega Mining ASA
|
| Pricing date: | Oct. 18
|
| Stock symbol: | Toronto: GLD
|
| Stock price: | C$1.16 at close Oct. 17
|
|
|
| First tranche
|
| Amount: | C$6.3 million
|
| Shares: | 7 million
|
| Settlement date: | Nov. 7
|
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