By Sheri Kasprzak
New York, Aug. 18 - NGM Resources Ltd. said it has raised A$1,505,000 from a private placement of stock with institutional investors in New York, Europe and Australia.
The company sold 21.5 million shares at A$0.07 each.
The offering is expected to close Aug. 22.
The proceeds from the deal will be used for exploration and development on projects in China and Australia, for the development of new projects and for working capital.
Based in South Perth, Western Australia, NGM is a gold exploration company.
| Issuer: | NGM Resources Ltd.
|
| Issue: | Stock
|
| Amount: | A$1,505,000
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| Shares: | 21.5 million
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| Price: | A$0.07
|
| Warrants: | No
|
| Announcement date: | Aug. 18
|
| Settlement date: | Aug. 22
|
| Stock price: | A$0.091 at close Aug. 18
|
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