By Devika Patel
Knoxville, Tenn., May 9 - Admiralty Resources NL announced it will conduct a private placement of shares for A$5 million.
The company will sell 28.6 million ordinary shares.
Lodge Corporate Pty Ltd. is the agent.
Proceeds will be used for accelerated growth, specifically providing working capital at the company's joint venture Cia Minera Santa Barbara to produce iron ore and expansion of the pilot plant at Rincon Salar.
Based in Melbourne, Australia, Admiralty is a mineral exploration company.
| Issuer: | Admiralty Resources NL
|
| Issue: | Ordinary shares
|
| Amount: | A$5 million
|
| Shares: | 28.6 million
|
| Warrants: | No
|
| Agent: | Lodge Corporate Pty Ltd.
|
| Pricing date: | May 9
|
| Stock symbol: | Australia: ADY
|
| Stock price: | A$0.195 at close May 9
|
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