By Sheri Kasprzak
New York, March 16 - Marathon Resources Ltd. said it has concluded a A$3.63 million private placement with a group of sophisticated and professional investors.
The company sold 5.5 million shares at A$0.66 each.
Bell Potter Securities Ltd. was the placement agent.
Proceeds will be used for exploration and for working capital.
Located in Stepney, Southern Australia, Marathon is a mineral exploration company.
| Issuer: | Marathon Resources Ltd.
|
| Issue: | Stock
|
| Amount: | A$3.63 million
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| Shares: | 5.5 million
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| Price: | A$0.66
|
| Warrants: | No
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| Placement agent: | Bell Potter Securities Ltd.
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| Settlement date: | March 16
|
| Stock symbol: | Australia: MTN
|
| Stock price: | A$0.71 at close March 16
|
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