By Devika Patel
Knoxville, Tenn., Aug. 13 - Encounter Resources Ltd. said it has received commitments for a A$3.2 million private placement of shares via manager Blackwood Capital Ltd.
The company will sell shares at A$0.27 apiece, an 18.18% discount to the Aug. 12 closing share price of A$0.33.
Proceeds will be used for exploration and working capital.
Encounter is a mineral exploration company based in West Perth, Australia.
| Issuer: | Encounter Resources Ltd.
|
| Issue: | Shares
|
| Amount: | A$3.2 million
|
| Price: | A$0.27
|
| Warrants: | No
|
| Manager: | Blackwood Capital Ltd.
|
| Pricing date: | Aug. 13
|
| Stock symbol: | Australia: ENR
|
| Stock price: | A$0.33 at close Aug. 13
|
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