By Laura Lutz
Des Moines, March 16 - Austindo Resources Corp. NL raised about A$2.9 million from the first tranche of a A$5.16 million private placement of shares.
In this tranche, the company sold about 193.1 million shares to institutional and sophisticated investors for A$0.015 per share. The full placement is expected to include 344 million shares.
The second trance, for the balance of the shares, is expected to close following shareholder approval at a general meeting in April.
Austindo is a resource exploration company based in Melbourne, Australia.
| Issuer: | Austindo Resources Corp. NL
|
| Issue: | Shares
|
| Amount: | A$5.16 million
|
| Shares: | 344 million
|
| Price: | A$0.015
|
| Warrants: | No
|
| Pricing date: | March 9
|
| Settlement date: | March 16 (for A$2.9 million)
|
| Stock symbol: | Australia: ARX
|
| Stock price: | A$0.019 at close March 16
|
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