Monax completes A$1.5 million placement of rights issue shortfall

By Marisa Wong

Milwaukee, Jan. 12 - Monax Mining Ltd. announced that it placed the full amount of the shortfall arising from the company's November rights issue.

The company completed a A$1.5 million placement of 19.8 million shares and 9.9 million options.

Monax plans to use funds from the placement for its Melton, Punt Hill and Kangaroo Island projects.

Monax is a mineral exploration company based in South Australia.

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