Offering raises funds for mining project exploration and evaluation
By Melissa Kory
Cleveland, March 24 - Genesis Minerals Ltd. said that it plans to raise A$1,845,000 via the placement of 9,225,000 ordinary shares.
The shares will be sold at A$0.20 per share, an 11.11% discount from the March 23 closing price of A$0.225.
Argonaut Securities Pty. Ltd. is the lead manager.
Proceeds will be used for exploration and evaluation of the Dinamarquesa and Cerro Verde Projects in northern Chile.
The mining company based in West Perth, Australia.
| Issuer: | Genesis Minerals Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$1,845,000
|
| Shares: | 9,225,000
|
| Price: | A$0.20
|
| Warrants: | No
|
| Manager: | Argonaut Securities Pty. Ltd.
|
| Pricing date: | March 24
|
| Stock symbol: | Australia: GMD
|
| Stock price: | A$0.225 at close March 23
|
| Market capitalization: | A$14.73 million
|
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