By Devika Patel
Knoxville, Tenn., May 5 - Mithril Resources Ltd. said it will take in A$1.6 million in a private placement of stock.
The company will sell 20 million ordinary shares at A$0.08 per share to clients of Taylor Collison Ltd. and some company directors. Investors also will receive a one-for-two free attaching option, which is exercisable at A$0.12 until March 30, 2012.
The first tranche will raise A$376,000 through an issue of 4.7 million shares and 2.35 million options. The second tranche will consist of 15.3 million shares and 7.65 million options for A$1.22 million.
Proceeds will be used for exploration and working capital.
Mithril Resources is a Goodwood, Australia-based mining company.
| Issuer: | Mithril Resources Ltd.
|
| Issue: | Ordinary stock
|
| Amount: | A$1.6 million
|
| Shares: | 20 million
|
| Price: | A$0.08
|
| Options: | One option for every two shares sold (10 million options)
|
| Option expiration: | March 30, 2012
|
| Option strike price: | A$0.12
|
| Pricing date: | May 5
|
| Stock symbol: | Australia: MTH
|
| Stock price: | A$0.10 at close May 5
|
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