By Sheri Kasprzak
Atlanta, Dec. 21 - African Eagle Resources plc said Tuesday it raised £1 million in a private placement of shares.
The company sold 4,576,817 shares at 22p each.
About 1.5 million shares were bought by JP Morgan Fleming Commodity Share Fund, 1 million shares were bought by RAB Capital and about 1,363,636 shares were bought by Cornhill Direct Insurance.
London-based African Eagle is a precious and base metals mining company. It plans to use the proceeds from the offering for exploration on its Igurubi gold project in Tanzania and its Mkushi copper project in Zambia.
| Issuer: | African Eagle Resources plc
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| Issue: | Stock
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| Amount: | £1 million
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| Shares: | 4,576,817
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| Price: | 22p
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| Warrants: | No
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| Investors: | JP Morgan Fleming Commodity Share Fund, RAB Capital, Cornhill Direct Insurance
|
| Settlement date: | Dec. 21
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| Stock price: | 33p at close Dec. 20
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