By Devika Patel
Knoxville, Tenn., Nov. 10 - Cauldron Energy Ltd. said it has settled a A$10 million private placement of shares and notes.
The company sold 6 million ordinary shares at A$0.50 apiece for A$3 million.
The A$7 million 10% convertible note is due July 31, 2012. It is convertible into stock at A$0.50 per share.
Qiu Derong and Qiu Dekang, principals of Shanghai Yizhao Investment Group Co. Ltd., were the investors.
Proceeds will be used for exploration.
Cauldron Energy is a West Perth, Australia, uranium exploration company.
| Issuer: | Cauldron Energy Ltd.
|
| Issue: | Ordinary shares, convertible note
|
| Amount: | A$10 million
|
| Warrants: | No
|
| Investors: | Qiu Derong and Qiu Dekang
|
| Settlement date: | Nov. 10
|
| Stock symbol: | Australia: CXU
|
| Stock price: | A$0.525 at close Nov. 10
|
|
|
| Shares
|
| Amount: | A$3 million
|
| Shares: | 6 million
|
| Price: | A$0.50
|
|
|
| Note
|
| Amount: | A$7 million
|
| Maturity: | July 31, 2012
|
| Coupon: | 10%
|
| Price: | Par
|
| Yield: | 10%
|
| Conversion price: | A$0.50
|
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