By Devika Patel
Knoxville, Tenn., March 20 - Kalahari Minerals plc said it plans to raise £14.4 million in a private placement of shares.
The company will sell 46.08 million ordinary shares at 31.25p per share.
Proceeds will be used to develop the company's copper and base metal projects, provide it with the capacity to maintain its 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: | £14.4 million
|
| Shares: | 46.08 million
|
| Price: | 31.25p
|
| Warrants: | No
|
| Pricing date: | March 20
|
| Stock symbol: | London: KAH
|
| Stock price: | 32.25p at close March 19
|
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