Deal finances exploration and evaluation programs, working capital
By Devika Patel
Knoxville, Tenn., Oct. 3 - Alloy Resources Ltd. said it negotiated a A$1 million private placement of stock.
The company will sell 40 million ordinary shares at A$0.025 per share. The price per share is a 16.67% discount to the Sept. 30 closing share price of A$0.03.
Proceeds will be used for exploration and evaluation programs at the company's Horse Well Gold Project and Cootamundra Project and as working capital.
Alloy is a West Perth, Australia-based gold exploration company.
| Issuer: | Alloy Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$1 million
|
| Shares: | 40 million
|
| Price: | A$0.025
|
| Warrants: | No
|
| Pricing date: | Oct. 3
|
| Stock symbol: | Australia: AYR
|
| Stock price: | A$0.03 at close Oct. 3
|
| Market capitalization: | A$3.76 million
|
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