By Devika Patel
Knoxville, Tenn., Oct. 14 - Arafura Resources Ltd. entered into a A$20 million two-year committed equity financing facility with YA Global Investments, LP, according to a company press release.
YA Global has committed to buy A$20 million in shares over five years.
Subject to certain pricing parameters, the shares will be priced at the lowest daily volume weighted average price of the company's shares traded on each of the 10 trading days following an advance notice.
Arafura will pay a 5% commission on each advance.
Arafura, formerly Arafura Resources NL, is a mineral exploration and resource development company based in South Perth, Australia.
| Issuer: | Arafura Resources Ltd.
|
| Issue: | Committed equity financing facility
|
| Amount: | A$20 million
|
| Tenor: | Five years
|
| Warrants: | No
|
| Investor: | YA Global Investments, LP
|
| Settlement date: | Oct. 14
|
| Stock symbol: | Australia: ARU
|
| Stock price: | A$0.45 at close Oct. 14
|
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