By Devika Patel
Knoxville, Tenn., Feb. 26 - Medusa Mining Ltd. said it completed a A$24.56 million private placement of stock.
The company sold 20.3 million ordinary shares at A$1.21 apiece.
The deal was underwritten by Euroz Securities Ltd.
Proceeds will be used for the phase 2 expansion of the company's Co-O underground gold mine and associated milling facilities in the Philippines, drilling at the Co-O mine and general working capital.
Medusa is a Perth, Australia-based gold producer with operations in the Philippines.
| Issuer: | Medusa Mining Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | A$24,563,000
|
| Shares: | 20.3 million
|
| Price: | A$1.21
|
| Warrants: | No
|
| Underwriter: | Euroz Securities Ltd.
|
| Pricing date: | Feb. 26
|
| Stock symbol: | Australia: MML
|
| Stock price: | A$1.39 at close Feb. 26
|
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