Company also arranges A$8 million share purchase plan at same price
By Devika Patel
Knoxville, Tenn., June 10 - Endocoal Ltd. said it arranged a A$6.94 million private placement of shares.
The company will sell 17.8 million shares at A$0.39 per share. The per-share price represents a 13.33% discount to the A$0.45 closing share price on June 9.
Helmsec Global Capital Ltd. and Austock Group Ltd. are joint-lead managers.
Settlement is expected June 21.
Proceeds will be used for exploration and working capital. The company also may raise an additional A$8 million through a share purchase plan at the same price per share.
Based in Sydney, Australia, Endocoal explores hard-coking, thermal and pulverized coal injection projects.
| Issuer: | Endocoal Ltd.
|
| Issue: | Shares
|
| Amount: | A$6,942,000
|
| Shares: | 17.8 million
|
| Price: | A$0.39
|
| Warrants: | No
|
| Managers: | Helmsec Global Capital Ltd. and Austock Group Ltd.
|
| Pricing date: | June 10
|
| Settlement date: | June 21
|
| Stock symbol: | Australia: EOC
|
| Stock price: | A$0.41 at close June 10
|
| Market capitalization: | A$33.47 million
|
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