By Laura Lutz
Washington, Feb. 20 - GVM Metals Ltd. priced a private placement of shares for £2.5 million.
The company plans to sell 8,333,333 shares to sophisticated and professional London-based investors at 30p per share.
Proceeds will be used for the company's acquisition of 50% of Baobab JV.
The placement is contingent upon shareholder approval at a meeting that the company expects to settle shortly.
GVM is a coal and minerals processing company based in West Perth, Australia.
| Issuer: | GVM Metals Ltd.
|
| Issue: | Shares
|
| Amount: | £2.5 million
|
| Shares: | 8,333,333
|
| Price: | 30p
|
| Warrants: | No
|
| Pricing date: | Feb. 20
|
| Stock symbol: | Australia: GVM
|
| Stock price: | A$0.745 at close Feb. 20
|
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