By Sheri Kasprzak
New York, April 3 - Equinox Minerals Ltd. said it received C$17,440,500 from the first two tranches of its previously announced private placement.
The company sold 9,227,777 shares at C$1.89 each to ZCCM Investments Holdings plc.
ZCCM also agreed to buy another C$17,440,500 in shares at 1.15 times the five-day volume-weighted average price before June 30.
Proceeds will be used for the development of the company's Lumwana copper project in Zambia and for working capital.
Based in Toronto, Equinox is a mineral exploration company.
| Issuer: | Equinox Minerals Ltd.
|
| Issue: | Stock
|
| Amount: | C$17,440,500
|
| Shares: | 9,227,777
|
| Price: | C$1.89
|
| Warrants: | No
|
| Investor: | ZCCM Investments Holdings plc
|
| Announcement date: | March 22
|
| Settlement date: | April 3
|
| Stock symbol: | Toronto: EQN
|
| Stock price: | C$1.58 at close April 3
|
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