Deal has A$1 million greenshoe, will finance projects in Peru
By Toni Weeks
San Diego, Aug. 21 - Latin Resources Ltd. said it has received subscriptions for a A$2 million private placement of stock. The deal has a A$1 million greenshoe.
The company will sell 7,157,809 shares at A$0.28 per share, a 3.45% discount to A$0.29, the closing share price on Aug. 15.
Settlement is expected by the end of August.
Proceeds will be used to progress the company's projects in Peru and for working capital.
Based in Perth, Australia, Latin Resources explores for iron, copper and gold.
| Issuer: | Latin Resources Ltd.
|
| Issue: | Shares
|
| Amount: | A$2 million
|
| Greenshoe: | A$1 million
|
| Shares: | 7,157,809
|
| Price: | A$0.28
|
| Warrants: | No
|
| Pricing date: | Aug. 21
|
| Stock symbol: | Australia: LRS
|
| Stock price: | A$0.29 at close Aug. 15 (last close)
|
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