Published on 12/9/2008 in the Prospect News PIPE Daily.
New Issue: Kalahari Minerals aims for £3.95 million in private placement of stock
By Devika Patel
Knoxville, Tenn., Dec. 9 - Kalahari Minerals plc said it plans to raise £3.95 million in a private placement of shares.
The company will sell 12,353,125 ordinary shares at 32p per share.
Proceeds will be used to maintain the company's stake in Extract Resources Ltd. and for general working capital requirements.
London-based Kalahari Minerals is a mining exploration and evaluation company.
| Issuer: | Kalahari Minerals plc
|
| Issue: | Ordinary shares
|
| Amount: | £3,953,000
|
| Shares: | 12,353,125
|
| Price: | 32p
|
| Warrants: | No
|
| Pricing date: | Dec. 9
|
| Stock symbol: | London: KAH
|
| Stock price: | 33.75p at close Dec. 9
|
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