By Devika Patel
Knoxville, Tenn., Nov. 16 - Titanium Resources Group Ltd. said it will raise £15.12 million in a private placement of shares,
The company will sell 151.2 million ordinary shares at 10p each.
Arbuthnot Securities Ltd. and Mirabaud Securities LLP are the U.K. agents. Auerbach Grayson & Co. is the U.S. agent.
Proceeds will be used to fund projects intended to increase production and processing capacity at the company's Sierra Rutile Mine.
Titanium is a resource exploration company based in Tortola, British Virgin Islands.
| Issuer: | Titanium Resources Group Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £15.12 million
|
| Shares: | 151.2 million
|
| Price: | 10p
|
| Warrants: | No
|
| Agent: | Arbuthnot Securities Ltd. and Mirabaud Securities LLP (United Kingdom), Auerbach Grayson & Co. (United States)
|
| Pricing date: | Nov. 16
|
| Stock symbol: | London: TXR
|
| Stock price: | 10.75p at close Nov. 16
|
| Market capitalization: | £30.1 million
|
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