By Devika Patel
Knoxville, Tenn., April 4 - African Energy Resources (Guernsey) Ltd. (Co.) announced it raised A$4.59 million in a private placement of shares.
The company sold 17 million shares at A$0.27 each.
Proceeds will be used to fund the ongoing feasibility studies on the Chirundu Uranium Project in Zambia and other exploration activities.
African Energy Resources is an exploration company focused on identifying and developing uranium resources in Africa. The company is headquartered in Guernsey, United Kingdom.
| Issuer: | African Energy Resources (Guernsey) Ltd. (Co.)
|
| Issue: | Ordinary shares and options
|
| Amount: | A$4.59 million
|
| Shares: | 17 million
|
| Price: | A$0.27
|
| Warrants: | No
|
| Settlement date: | April 4
|
| Stock symbol: | Australia: AFR
|
| Stock price: | A$0.30 at close April 4
|
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