By Laura Lutz
Washington, Feb. 20 - Magna Mining NL arranged a A$1.4 million private placement of shares with options.
The company intends to sell 50 million shares at A$0.028 each. For each share, the investors will receive on option, exercisable at A$0.10 until Nov. 30, 2009.
The deal will be underwritten by S.A. Capital Pty. Ltd.
Proceeds will be used for working capital, acquisitions and general corporate purposes.
Magna is a mining company based in West Perth, Australia.
| Issuer: | Magna Mining NL
|
| Issue: | Shares
|
| Amount: | A$1.4 million
|
| Shares: | 50 million
|
| Price: | A$0.028
|
| Options: | One per share
|
| Option expiration: | Nov. 30, 2009
|
| Option strike price: | A$0.10
|
| Underwriter: | S.A. Capital Pty Ltd.
|
| Pricing date: | Feb. 20
|
| Stock symbol: | Australia: MAN
|
| Stock price: | A$0.029 at close Feb. 20
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
