By Devika Patel
Knoxville, Tenn., Nov. 1 - Halcyon Group Ltd. said it plans to raise A$1.84 million in two private placements of shares.
In the first deal, the company will sell 40 million shares at A$0.029 per share for A$1.16 million.
In the second offering, the company will sell 2 million shares at A$0.34 apiece for A$680,000. The shares in the second deal will be sold with 2 million free attaching one-year options exercisable at A$0.34 each.
Proceeds will be used to help fund the company's nickel extraction scoping study, for exploration programs and to provide general working capital.
Halcyon is a West Perth, Western Australia-based mineral company exploring for gold, base metals, copper and sulphide nickel.
| Issuer: | Halcyon Group Ltd.
|
| Issue: | Shares
|
| Amount: | A$1.84 million
|
| Pricing date: | Nov. 1
|
| Stock symbol: | Australia: HCY
|
| Stock price: | A$0.03 at close Nov. 1
|
|
|
| First placement
|
| Amount: | A$1.16 million
|
| Shares: | 40 million
|
| Price: | A$0.029
|
| Warrants: | No
|
|
|
| Second placement
|
| Amount: | A$680,000
|
| Shares: | 2 million
|
| Price: | A$0.34
|
| Options: | 2 million
|
| Option expiration: | One year
|
| Option strike price: | A$0.34
|
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