By Devika Patel
Knoxville, Tenn., May 20 - Sino Gold Mining Ltd. said it has agreed to raise A$68 million in a private placement.
The company plans to sell shares at A$5.03 per share to Gold Fields Ltd.
Proceeds will be used to close out all of the company's gold forward sales contracts and for acquisitions, development, exploration expenditure, working capital and general corporate purposes.
Based in Sydney, Australia, Sino Gold Mining mines, processes and sells gold ore.
| Issuer: | Sino Gold Mining Ltd.
|
| Issue: | Shares
|
| Amount: | A$68 million
|
| Price: | A$5.03
|
| Warrants: | No
|
| Investor: | Gold Fields Ltd.
|
| Pricing date: | May 20
|
| Stock symbol: | Australia: SGX
|
| Stock price: | A$5.32 at close May 20
|
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