Gold explorer sells shares at A$0.04, a 25% discount to closing price
By Devika Patel
Knoxville, Tenn., July 25 - Atlantic Gold NL said it will raise A$1.62 million in a private placement of stock. Au Mining Ltd., the investor, will have a 19.9% stake in the company as a result of the deal.
The company will sell 32,492,534 ordinary shares at A$0.05 apiece, which is a 25% premium to the July 23 closing share price of A$0.04.
Settlement is expected July 29.
Based in Crows Nest, Australia, Atlantic is a gold exploration company.
| Issuer: | Atlantic Gold NL
|
| Issue: | Ordinary shares
|
| Amount: | A$1,624,627
|
| Shares: | 32,492,534
|
| Price: | A$0.05
|
| Warrants: | No
|
| Investor: | Au Mining Ltd.
|
| Pricing date: | July 25
|
| Settlement date: | July 29
|
| Stock symbol: | Australia: ATV
|
| Stock price: | A$0.043 at close July 25
|
| Market capitalization: | A$20.81 million
|
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