By Devika Patel
Knoxville, Tenn., Nov. 27 - Ormonde Mining plc said it will raise £1.6 million in a private placement of shares.
The company will sell 16 million ordinary shares at 10p apiece.
Proceeds will be used for drilling.
Based in Navan, Ireland, Ormonde Mining and its subsidiaries acquire, explore and develop mineral resource projects.
| Issuer: | Ormonde Mining plc
|
| Issue: | Ordinary shares
|
| Amount: | £1.6 million
|
| Shares: | 16 million
|
| Price: | 10p
|
| Pricing date: | Nov. 27
|
| Stock symbol: | London: ORM
|
| Stock price: | 11.25p at close Nov. 26
|
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