By Angela McDaniels
Tacoma, Wash., May 28 - AnaeCo Ltd. said it raised A$5 million through the placement of 19,320,769 shares to sophisticated investors.
The shares were priced at A$0.26 each and will be issued upon approval by shareholders at a general meeting on June 25.
The proceeds will be used for working capital, for project development expenses and for administration, for business development of emerging markets and to make a loan repayment.
AnaeCo is a Bentley, Western Australia-based company that operates in the organic solid waste treatment industry.
| Issuer: | AnaeCo Ltd.
|
| Issue: | Shares
|
| Amount: | A$5 million
|
| Shares: | 19,230,769
|
| Price: | A$0.26
|
| Warrants: | No
|
| Pricing date: | May 28
|
| Settlement date: | June 25
|
| Stock symbol: | Australia: ANQ
|
| Stock price: | A$0.32 at close May 27
|
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