By Devika Patel
Knoxville, Tenn., Nov. 6 - Azumah Resources Ltd. said it completed a A$4.24 million oversubscribed private placement of shares.
The company sold 21.2 million ordinary shares at A$0.20 per share. Macquarie Bank Ltd. participated in the placement to maintain its 15% holding.
Proceeds will bolster Azumah's working capital to more than A$9 million ahead of a large-scale drilling program.
Azumah is a mineral exploration company based in West Leederville, Australia.
| Issuer: | Azumah Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$4.24 million
|
| Shares: | 21.2 million
|
| Price: | A$0.20
|
| Warrants: | No
|
| Investor: | Macquarie Bank Ltd.
|
| Settlement date: | Nov. 6
|
| Stock symbol: | Australia: AZM
|
| Stock price: | A$0.27 at close Nov. 6
|
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