By Sheri Kasprzak
New York, Dec. 13 - Katanga Mining Ltd. said it completed a private placement for C$17.5 million.
The company issued 14 million subscription receipts at C$1.25 each.
Each receipt was exchanged for one share of Katanga.
GMP Securities LP and Quest Securities Corp. were the lead placement agents in a syndicate that included Haywood Securities Inc.
Proceeds will be used for a feasibility study on the Kamoto Joint Venture under an option agreement with Kinross Forrest Ltd.
Toronto-based Katanga is a mineral exploration company.
| Issuer: | Katanga Mining Ltd.
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| Issue: | Subscription receipts exchanged for shares
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| Amount: | C$17.5 million
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| Receipts: | 14 million
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| Price: | C$1.25
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| Warrants: | No
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| Placement agents: | GMP Securities LP (co-lead), Quest Securities Corp. (co-lead); Haywood Securities Inc.
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| Settlement date: | Dec. 13
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| Stock price: | C$4.00 at close Dec. 13
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