Offering conducted at A$0.16 per share along with share purchase plan
By Devika Patel
Knoxville, Tenn., April 27 - Sherwin Iron Ltd. said it concluded an A$8.5 million private placement of shares. Jerry Ren was among the investors.
The company sold the shares at A$0.16 apiece. The price per share represents a 20% discount to the April 26 closing share price of A$0.20.
The company also is conducting a A$2.5 million share purchase plan at the same price.
Proceeds will be used to accelerate drilling and development of the Roper River Iron Ore Project and for general working capital.
The investment and exploration company is based in Subiaco, Australia.
| Issuer: | Sherwin Iron Ltd.
|
| Issue: | Shares
|
| Amount: | A$8.5 million
|
| Price: | A$0.16
|
| Warrants: | No
|
| Investor: | Jerry Ren
|
| Settlement date: | April 27
|
| Stock symbol: | Australia: SHD
|
| Stock price: | A$0.19 at close April 27
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
