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Greenland Minerals and Energy Ltd closes fully underwritten A$8.9 mln rights issue

Tuesday, 8 Jul 2014 07:34pm EDT 

Greenland Minerals and Energy Ltd:Says that rights issue announced on June 6, closed on July 3, oversubscribed. All securities offered were applied for under rights issue and as consequence there was no shortfall.Fully underwritten issue raised about A$8.9 mln (before costs).Net proceeds in conjunction with existing cash reserves will be used to finalise a mining license application for Kvanefjeld project, strategically located in southern Greenland.Rights issue was managed by Patersons Securities Limited, with Wimmer Financial and CPS Securities as co-managers. 

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