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Ausgold Ltd Announces Capital Raising


Sunday, 5 Aug 2012 08:00pm EDT 

Ausgold Ltd announced that it has completed a placement of 20.7 million new fully paid ordinary shares at AUD 0.33 per share to raise AUD 6.8 million (Placement). The Placement will be made in two tranches: Tranche 1: 5.5 million shares to raise AUD 1.8 million in cash to be issued under the Company's 15% capacity pursuant to ASX Listing Rule 7.1. Settlement of Tranche 1 is scheduled for August 13, 2012; and Tranche 2: 15.2 million shares to raise AUD 2.0 million in cash and AUD 3.0 million securities, subject to shareholder approval being granted at a meeting of shareholders to be held in September 2012. Ausgold also intends to raise a further AUD 2 million through a Share Purchase Plan (SPP) to eligible shareholders at AUD 0.33 per share. The proceeds of the Placement and SPP will fund the Company's exploration of the Katanning Gold Project and shall also fund regional exploration across the 200 kilometer (km) of tenement holdings within the greater Katanning Regional Project. 

Company Quote

0.038
0.0010 +2.70%
16 Apr 2014