By Angela McDaniels
Tacoma, Wash., May 26 - CGA Mining Ltd. will sell C$17 million of ordinary shares in a private placement through agent Haywood Securities Inc., according to a company news release.
The shares will be issued at a price of C$1.35 each.
The offering is expected to close on or about June 12.
The proceeds, in combination with existing cash reserves, will be used to supplement working capital during the initial months of production at the Masbate Gold Mine.
CGA is a gold mining company based in Perth, Australia.
| Issuer: | CGA Mining Ltd.
|
| Issue: | Ordinary shares
|
| Amount: | C$17 million
|
| Price: | C$1.35
|
| Warrants: | No
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | May 26
|
| Stock symbol: | Toronto: CGA
|
| Stock price: | C$1.64 at close May 25
|
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