By Jennifer Chiou
New York, May 27 - CGA Mining Ltd. said it will now sell C$20 million, up from C$17 million, of ordinary shares in a private placement through agent Haywood Securities Inc. due to high investor demand.
The shares will be issued at a price of C$1.35 each.
As already reported, 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$20,000,250 (increased from C$17 million)
|
| Price: | C$1.35
|
| Warrants: | No
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | May 26
|
| Upsized: | May 27
|
| Stock symbol: | Toronto: CGA
|
| Stock price: | C$1.64 at close May 25
|
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