By Devika Patel
Knoxville, Tenn., Aug. 23 - Australian Bauxite Ltd. said it raised A$6.08 million in a private placement of shares. State One Stock Broking Ltd. was the agent.
The company sold 13.5 million ordinary shares at A$0.45 per share. The price represents a 15.09% discount to the A$0.53 closing share price on Aug. 20.
Settlement is expected Aug. 27.
Proceeds will be used for exploration and development.
The bauxite exploration and development company is based in Sydney, Australia.
| Issuer: | Australian Bauxite Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$6,075,000
|
| Shares: | 13.5 million
|
| Price: | A$0.45
|
| Warrants: | No
|
| Agent: | State One Stock Broking Ltd.
|
| Announcement date: | Aug. 23
|
| Settlement date: | Aug. 27
|
| Stock symbol: | Australia: ABZ
|
| Stock price: | A$0.47 at close Aug. 23
|
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