By Devika Patel
Knoxville, Tenn., Sept. 24 - Cazaly Resources Ltd. said it will raise A$4 million in a private placement of shares.
The company will sell 10 million ordinary shares at A$0.40 apiece. Investors will also receive 5 million options.
Proceeds will be used to advance the company's Parker Range iron ore project, for further exploration of the company's Iron Ore projects and for working capital purposes.
Based in Leederville, Australia, Cazaly is a mineral explorer.
| Issuer: | Cazaly Resources Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | A$4 million
|
| Shares: | 10 million
|
| Price: | A$0.40
|
| Options: | 5 million
|
| Settlement date: | Sept. 24
|
| Stock symbol: | Australia: CAZ
|
| Stock price: | A$0.35 at close Sept. 24
|
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