Proceeds used for land acquisitions adjoining Rio Tinto Copper Mine
By Toni Weeks
San Diego, Aug. 22 - EMED Mining Public Ltd. said it conducted a £3.54 million private placement of stock via its U.K. and Canadian brokers, Fox-Davies Capital Ltd. and Canaccord Genuity Corp., respectively.
The company sold 41,672,243 ordinary shares at 8.5p each. The per-share price is a 9.33% discount to the closing share price of 9.375p on Aug. 21.
Proceeds will be used to finance the acquisition of land plots adjoining the Rio Tinto Copper Mine.
EMED is a minerals development and exploration company based in Nicosia, Cyprus.
| Issuer: | EMED Mining Public Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £3,542,141
|
| Shares: | 41,672,243
|
| Price: | 8.5p
|
| Warrants: | No
|
| Agents: | Fox-Davies Capital Ltd. and Canaccord Genuity Corp.
|
| Settlement date: | Aug. 22
|
| Stock symbol: | London: EMED
|
| Stock price: | 9.375p at close Aug. 21
|
| Market capitalization: | £90.53 million
|
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