Mirabaud Securities is agent; proceeds fund subsidiary loan repayment
By Devika Patel
Knoxville, Tenn., Feb. 24 - Titanium Resources Group Ltd. said it completed a private placement of shares. It raised £11.37 million via agent Mirabaud Securities LLP.
The company sold 113,660,925 ordinary shares at 10p each. The price per share is a 4.76% discount to the Feb. 22 closing share price of 10.5p.
Proceeds will be used to repay a €13 million loan a company subsidiary received from the government of Sierra Leone.
Titanium is a resource exploration company based in Tortola, British Virgin Islands.
| Issuer: | Titanium Resources Group Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | £11,366,093
|
| Shares: | 113,660,925
|
| Price: | 10p
|
| Warrants: | No
|
| Agent: | Mirabaud Securities LLP
|
| Settlement date: | Feb. 23
|
| Stock symbol: | London: TXR
|
| Stock price: | 10.5p at close Feb. 22
|
| Market capitalization: | £40.52 million
|
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