By Devika Patel
Knoxville, Tenn., March 10 - Adamus Resources Ltd. said it has reached an agreement for a A$9 million private placement of shares.
The company will sell 25 million shares at A$0.36 apiece in two tranches, with 14 million shares to be sold by March 16 and the remaining 11 million shares to settle on April 1.
Proceeds will be used to provide additional capital and accelerate exploration activities.
The mineral explorer is based in Perth, Australia.
| Issuer: | Adamus Resources Ltd.
|
| Issue: | Shares
|
| Amount: | A$9 million
|
| Shares: | 25 million
|
| Price: | A$0.36
|
| Warrants: | No
|
| Pricing date: | March 10
|
| Settlement date: | March 16 (for A$5.04 million), April 1 (for A$3.96 million)
|
| Stock symbol: | Australia: ADU
|
| Stock price: | A$0.40 at close March 10
|
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