By Sheri Kasprzak
New York, Nov. 29 - OM Holdings Ltd. said it closed a private placement for A$21 million.
The company issued 20 million shares at A$1.05 each.
Euroz Securities Ltd. was the placement agent.
Proceeds will be used to fund obligations to Bootu Creek Resources Pty. Ltd. to acquire Groote Eylandt Mining Co.'s interest in the Bootu Creek manganese project. The rest will be used for drilling and working capital.
Based in West Perth, Western Australia, OM Holdings is a manganese exploration company.
| Issuer: | OM Holdings Ltd.
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| Issue: | Stock
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| Amount: | A$21 million
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| Shares: | 20 million
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| Price: | A$1.05
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| Warrants: | No
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| Placement agent: | Euroz Securities Ltd.
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| Settlement date: | Nov. 29
|
| Stock price: | A$1.325 at close Nov. 29
|
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