Investors also receive free attaching options on a one-for-four basis
By Devika Patel
Knoxville, Tenn., April 20 - Apollo Minerals Ltd. said it plans a A$1.6 million private placement of shares. CPS Securities Pty Ltd. is the lead manager.
The company will sell the shares at A$0.04 per share, a 20% discount to the April 19 closing share price of A$0.05.
Proceeds will be used for a drilling program and project development scoping study for the Sequoia prospect at the Commonwealth Hill Iron Project.
Based in West Perth, Australia, Apollo is a iron ore exploration company.
| Issuer: | Apollo Minerals Ltd.
|
| Issue: | Shares
|
| Amount: | A$1.6 million
|
| Price: | A$0.04
|
| Warrants: | No
|
| Manager: | CPS Securities Pty Ltd. (lead)
|
| Pricing date: | April 20
|
| Stock symbol: | Australia: AON
|
| Stock price: | A$0.05 at close April 19
|
| Market capitalization: | A$9.39 million
|
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