Investor Auto International buys about 22 million shares at A$0.109
By Devika Patel
Knoxville, Tenn., April 10 - Liberty Resources Ltd. said it arranged a A$2.4 million private placement of stock with investor Auto International Investment Ltd.
The company will sell about 22 million shares at A$0.109 per share, a 9% premium to A$0.10, the closing share price on April 9.
Proceeds will be used to commercialize the company's Urea Fertilizer Project in Queensland and to satisfy working capital requirements for the upcoming drilling program.
Liberty Resources is developing a low cost urea fertilizer and is based in Subiaco, Western Australia.
| Issuer: | Liberty Resources Ltd.
|
| Issue: | Shares
|
| Amount: | A$2,401,530
|
| Shares: | 22 million (approximate)
|
| Price: | A$0.109
|
| Warrants: | No
|
| Investor: | Auto International Investment Ltd.
|
| Pricing date: | April 10
|
| Stock symbol: | Australia: LBY
|
| Stock price: | A$0.10 at close April 9
|
| Market capitalization: | A$21.74 million
|
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