TORONTO, ONTARIO, Nov 06 (MARKET WIRE) --
Lydian International Ltd. (TSX: LYD)("Lydian" or "the Company"), a
diversified mineral exploration and development company, is pleased to
announce that it has completed a non-brokered private placement with
prominent financial investor and resource sector specialists Macquarie
Bank Limited of 3,333,333 ordinary shares at a price of $0.60 per
ordinary share for aggregate gross proceeds of $2,000,000. Lydian will
pay a finder's fee equal to 1.5% of the gross proceeds of this part of
the private placement. In addition, Lydian has placed a further 330,000
ordinary shares at a price of $0.60 per ordinary share for aggregate
gross proceeds of approximately $200,000. Lydian will pay a fee equal to
6% of this part of the placement and issue 19,800 two year broker
warrants at $0.64. All the ordinary shares and broker warrants issued are
subject to a four month hold period.
Proceeds of the private placement will be used for continued exploration
of the Company's mineral properties and for general working capital
purposes.
"We feel privileged to have Macquarie Bank now on the share register"
said Lydian's President and CEO, Dr Tim Coughlin "Macquarie is one of the
largest and best recognized resource sector institutions in the World.
Macquarie joins the International Finance Corporation, which is part of
the World Bank Group, Newmont Mining Corporation and the European Bank
for Reconstruction and Development as Lydian's increasingly impressive
institutional shareholder base."
About Lydian International
Lydian is a diversified mineral exploration and development company
incorporated in Jersey, with expertise employing "first mover" strategies
in emerging exploration environments. Currently the Company is focused on
Eastern Europe developing advanced precious and base metal assets in
Armenia and in Kosovo (under UNSCR 1244). The two main projects are gold
at Amulsar in Armenia, and zinc, lead, silver and gold at Drazhnje in
Kosovo. Lydian also has a pipeline of promising gold and base metal
exploration projects in the Balkans region, and operates a 50/50 gold and
copper exploration joint venture with Newmont Overseas Exploration
Limited, a subsidiary of Newmont Mining Corporation in the south Caucasus
region including Amulsar. Lydian's management team has a track record of
success in grassroots discovery, in acquiring and developing undervalued
assets, and in building companies. Lydian has a strong social agenda and
a unique understanding of the complex social and political issues that
characterise emerging environments. The Company's two largest
shareholders are Newmont Mineral Holdings B.V. (owned by Newmont Mining
Corporation), and the International Finance Corporation (IFC), a member
of the World Bank Group. More information can be found on Lydian's web
site at www.lydianinternational.co.uk.
Contacts:
Lydian International Ltd.
Tim Coughlin
President and CEO
+44 7717 204300
tim.coughlin@lydianinternational.co.uk
Lydian International Ltd.
Tracy Weslosky or Fred Cowans
(416) 581-0177
Toll-Free in North America (866) 544-9622
info@lydianinternational.co.uk
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