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Alligator Energy Ltd Announces Placement And Non-Renounceable Rights Issue

Tuesday, 17 Sep 2013 07:37pm EDT 

Alligator Energy Ltd announced that it has entered into a strategic investment partnership with Macallum Group Ltd (Macallum Group or MGL) as part of an approximately $1.8 million capital raising to drive the next phase of Alligator’s uranium exploration strategy in the Alligator Rivers Uranium Province in the Northern Territory, Australia. The investment partnership will allow Alligator to extend the 2013 drilling program as well as underpinning exploration in 2014 as the Company begins to pursue high priority drill targets including Orion North, Orion East, Mintaka and Caramal East in addition to the current drilling in the Caramal area. The Investment Agreement with MGL involves: a strategic 15% share placement of 23,337,750 shares to MGL at $0.04 per share to raise a total of $933,510 (Placement); and a non-renounceable partially underwritten rights issue to eligible shareholders, on the basis of 1.5 new shares for every 10 shares currently held at $0.034 per share, to raise up to approximately $912,506 (before costs) (Rights Issue). 

Company Quote

0.0030 +12.00%
24 Dec 2014