Proceeds used for commercial development of the Coburn Zircon Project
By Devika Patel
Knoxville, Tenn., Feb. 6 - Gunson Resources Ltd. said it will raise A$2.4 million in a private placement of shares in a single tranche.
The company will sell 12 million ordinary shares at A$0.20 per share. The price per share represents a 4.76% discount to the Feb. 3 closing share price of A$0.21.
Settlement is expected Feb. 7.
Proceeds will be used for commercial development of the Coburn Zircon Project.
The West Perth, Australia, company explores for copper, gold and nickel.
| Issuer: | Gunson Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$2.4 million
|
| Shares: | 12 million
|
| Price: | A$0.20
|
| Warrants: | No
|
| Announcement date: | Feb. 6
|
| Settlement date: | Feb. 7
|
| Stock symbol: | Australia: GUN
|
| Stock price: | A$0.21 at close Feb. 3
|
| Market capitalization: | A$43.86 million
|
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