Financing raises cash for company's exploration, evaluation programs
By Devika Patel
Knoxville, Tenn., Oct. 14 - Black Ridge Mining NL said it will sell 137 million ordinary shares at A$0.0074 apiece in a private placement. Patersons Securities Ltd. placed 50 million shares to its clients for A$370,000.
The company will raise a total of A$1.01 million by selling the shares at a 26% discount to the Oct. 13 closing share price of A$0.01.
Proceeds will be applied to ongoing exploration and evaluation programs, the evaluation and acquisition of new opportunities, corporate and administrative activities and working capital.
The mineral explorer is based in Subaico, Australia.
| Issuer: | Black Ridge Mining NL
|
| Issue: | Ordinary shares
|
| Amount: | A$1,013,800
|
| Shares: | 137 million
|
| Price: | A$0.0074
|
| Warrants: | No
|
| Agent: | Patersons Securities Ltd. (for A$370,000)
|
| Pricing date: | Oct. 14
|
| Stock symbol: | Australia: BRD
|
| Stock price: | A$0.01 at close Oct. 14
|
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