Funds to be used for feasibility study on uranium project in Namibia
By Devika Patel
Knoxville, Tenn., Dec. 13 - Bannerman Resources Ltd. said it will complete an oversubscribed private placement of ordinary shares. Argonaut Securities will be the agent for the A$15 million deal.
The company will sell the shares at A$0.50 apiece, a 12.28% discount to the closing share price on Dec. 10 of A$0.57.
Proceeds will be used to advance Bannerman's feasibility study on its 80%-owned flagship Etango Uranium Project in Namibia, for regional exploration activities and for general corporate and administrative purposes.
The emerging uranium development company is based in Perth, Australia.
| Issuer: | Bannerman Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$15 million
|
| Price: | A$0.50
|
| Warrants: | No
|
| Agent: | Argonaut Securities
|
| Pricing date: | Dec. 13
|
| Stock symbol: | Australia: BMN
|
| Stock price: | A$0.57 at close Dec. 13
|
| Market capitalization: | A$114.97 million
|
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