By Laura Lutz
Washington, Feb. 12 - Uranium Equities Ltd. announced a private placement of shares for A$23 million.
The company plans to sell 46 million shares to Australian and international sophisticated and professional investors at A$0.50 per share.
Laramide Resources Ltd. has agreed to subscribe for 6 million shares.
Southern Cross Equities acted as lead manager. Taylor Collison arranged the placement in Australia and the United Kingdom. Westwind Partners (UK) Ltd. arranged it in North America and Europe.
The placement will be conducted in two tranches. The first, for 13.8 million shares, is expected to settle on Feb. 21. The second, for 32.2 million, will be settled in mid-March, subject to shareholder approval.
Proceeds will be used for uranium exploration, corporate development and working capital.
Uranium Equities is a uranium exploration company based in Adelaide, Australia.
| Issuer: | Uranium Equities Ltd.
|
| Issue: | Shares
|
| Amount: | A$23 million
|
| Shares: | 46 million
|
| Price: | A$0.50
|
| Warrants: | No
|
| Investor: | Laramide Resources Ltd. (for 6 million shares)
|
| Manager: | Southern Cross Equities (lead)
|
| Agents: | Taylor Collison (in Australia and the United Kingdom), Westwind Partners (UK) Ltd. (in North America and Europe)
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 21 (for 13.8 million shares)
|
| Stock symbol: | Australia: UEQ
|
| Stock price: | A$0.585 at close Feb. 12
|
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