By Devika Patel
Knoxville, Tenn., Aug. 27 - ABM Resources NL said it will raise A$6 million in a private placement of shares.
The company will sell 200 million ordinary shares at A$0.03 each. The shares will be sold in two tranches, with the first A$1.5 million tranche settling in two weeks. The remainder will settle upon receipt of shareholder approval.
Blackwood Capital Ltd. is the agent.
Proceeds will be applied toward what the company termed its "evolution into a well-funded, innovative and dynamic Australian explorer."
ABM Resources is a Nedlands, Australia-based resource exploration company with a portfolio of base metal and gold projects.
| Issuer: | ABM Resources NL
|
| Issue: | Ordinary shares
|
| Amount: | A$6 million
|
| Shares: | 200 million
|
| Price: | A$0.03
|
| Warrants: | No
|
| Agent: | Blackwood Capital Ltd.
|
| Pricing date: | Aug. 27
|
| Stock symbol: | Australia: ABU
|
| Stock price: | A$0.36 at close Aug. 27
|
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