By Devika Patel
Knoxville, Tenn., March 20 - Mineral Deposits Ltd. said it plans to conduct a C$33.07 million private placement of stock.
The company will sell 63.6 million ordinary shares at C$0.52 per share.
Settlement is expected on March 30.
Proceeds will be used to help repay a $35 million working capital facility provided by RMB Australia Holdings Ltd. and Macquarie Bank Ltd.
Based in Melbourne, Australia, Mineral Deposits is a mineral exploration company.
| Issuer: | Mineral Deposits Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | C$33,072,000
|
| Shares: | 63.6 million
|
| Price: | C$0.52
|
| Warrants: | No
|
| Pricing date: | March 20
|
| Settlement date: | March 30
|
| Stock symbol: | Toronto: MDM
|
| Stock price: | C$0.75 at close March 19
|
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