By Devika Patel
Knoxville, Tenn., June 26 - Bauxite Resources Ltd. said it raised A$9.85 million in a private placement of shares.
The company sold 19.7 million ordinary shares at A$0.50 per share.
Proceeds will be used to pursue the company's bauxite exploration program as well as its Stage 1 Direct Shipping Ore operation.
The East Perth, Australia, company explores for bauxite deposits.
| Issuer: | Bauxite Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$9.85 million
|
| Shares: | 19.7 million
|
| Price: | A$0.50
|
| Warrants: | No
|
| Settlement date: | June 26
|
| Stock symbol: | Australia: BAU
|
| Stock price: | A$0.445 at close June 26
|
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