By Sheri Kasprzak
New York, Sept. 28 - Albidon Ltd. said it has arranged a private placement for A$13.02 million.
The company plans to sell 21 million shares at A$0.62 each to institutional investors in the United Kingdom, Canada and Australia.
The offering is being underwritten by RBC Capital Markets, African Lion 2 Ltd., Numis Securities, Haywood Securities Inc. and Austock Group Ltd.
Proceeds from the deal will be used for a feasibility study on the Enterprise deposit at the Munali nickel project in Zambia.
Based in Nederlands, Western Australia, Albidon is a mineral exploration company.
| Issuer: | Albidon Ltd.
|
| Issue: | Stock
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| Amount: | A$13.02 million
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| Shares: | 21 million
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| Price: | A$0.62
|
| Warrants: | No
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| Underwriters: | RBC Capital Markets, African Lion 2 Ltd., Numis Securities, Haywood Securities Inc., Austock Group Ltd.
|
| Pricing date: | Sept. 28
|
| Stock price: | A$0.67 at close Sept. 28
|
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