Proceeds to be used to expand, accelerate four gold drilling programs
By Melissa Kory
Cleveland, May 2 - Talga Gold Ltd. said that it placed 6 million shares to raise A$2.1 million.
The price per share is A$0.35, which is a 2.94% premium to the May 1 closing price of A$0.34.
The placement will be completed in two tranches. The first tranche will include up to 1.85 million shares, and the second tranche will include up to 4.15 million shares. The second tranche is subject to shareholder approval at the company's June 7 general meeting.
E.L. & C. Baillieu Stockbroking Ltd. acted as lead manager.
The funds will be used to expand and accelerate the company's four gold projects.
Talga Gold is a gold explorer based in West Perth, Australia.
| Issuer: | Talga Gold Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$2.1 million
|
| Shares: | 6 million
|
| Price: | A$0.35
|
| Warrants: | No
|
| Pricing date: | May 2
|
| Stock symbol: | Australia: TLG
|
| Stock price: | A$0.34 at close May 1
|
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