By Sheri Kasprzak
New York, June 1 - Yamarna Goldfields Ltd. has negotiated a A$3.01 million private placement.
The offering includes 430 million shares at A$0.007 each offered to Chifley Investor Group Pty. Ltd.
Each share comes with an attached option, exercisable at A$0.009 each through July 31, 2009.
Also, Yamarna intends to conduct a 1-for-4 non-renounceable entitlement issue with all of its shareholders.
The shareholders will receive one share and one option for every four shares held.
The options are exercisable under the same terms as the options in the placement.
The proceeds from both the placement and the entitlement issue will be used for exploration on the company's Talga Peak gold project as well as for general corporate purposes and for working capital.
Based in Victoria, Australia, Yamarna is a gold exploration and development company.
| Issuer: | Yamarna Goldfields Ltd.
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| Issue: | Stock
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| Amount: | A$3.01 million
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| Shares: | 430 million
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| Price: | A$0.007
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| Options: | One option per share
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| Option expiration: | July 31, 2009
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| Option price: | A$0.009
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| Investor: | Chifley Investor Group Pty. Ltd.
|
| Pricing date: | June 1
|
| Stock symbol: | Australia: YAM
|
| Stock price: | A$0.009 at close June 1
|
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