By Laura Lutz
Des Moines, April 12 - Albidon Ltd. settled a private placement of shares for A$6,496,038.
The company sold 4,190,992 shares at A$1.55 each to Jinchuan Group Ltd.
The placement is being conducted in connection with an offtake agreement between Albidon and Jinchuan for the Munali project in Zambia. The share price is equal to the 45-day volume-weighted average price.
Proceeds will be used for equipment purchases, construction of the company's Munali nickel project and mine development.
Albidon is a mineral exploration and development company based in West Perth, Australia.
| Issuer: | Albidon Ltd.
|
| Issue: | Shares
|
| Amount: | A$6,496,038
|
| Shares: | 4,190,992
|
| Price: | A$1.55
|
| Warrants: | No
|
| Investor: | Jinchuan Group Ltd.
|
| Settlement date: | April 12
|
| Stock symbol: | Australia: ALB
|
| Stock price: | A$2.40 at close April 12
|
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