Company offers 28,758,445 shares at 8p per share, a 13.51% discount
By Devika Patel
Knoxville, Tenn., Feb. 29 - Solomon Gold plc said it plans a £2.3 million private placement of shares.
The company will sell 28,758,445 shares at 8p per share. The price per share is a 13.51% discount to the Feb. 28 closing price of 9.25p.
Settlement is expected March 6.
Proceeds will be used for exploration at Rannes, including resource drilling at Kauffmans and Crunchie, preliminary metallurgical testing and planning for scoping studies, drill testing and exploration.
Solomon is a gold exploration company based in Brisbane, Australia.
| Issuer: | Solomon Gold plc
|
| Issue: | Shares
|
| Amount: | £2,300,676
|
| Shares: | 28,758,445
|
| Price: | 8p
|
| Warrants: | No
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 6
|
| Stock symbol: | London: SOLG
|
| Stock price: | 9.25p at close Feb. 28
|
| Market capitalization: | £26.26 million
|
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