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Lachlan Star Ltd Announces Closing Of Private Placements For Gross Proceeds Of CAD6.5 Million

Thursday, 7 Nov 2013 05:45pm EST 

Lachlan Star Ltd announced that it has closed the previously announced Tranche 2 non brokered private placement for gross proceeds of CAD5 million at an issue price of CAD0.20 per ordinary share for 25 million ordinary shares, other than proceeds of CAD123,000 in respect of 617,394 shares which are expected to be received later on November 08, 2013. Due to demand from institutional investors, the Company elected to complete a second placement for additional gross proceeds of CAD1.5 million at an issue price of CAD0.20 per ordinary share for 7.5 million ordinary shares. The second placement will be issued within the Company‚Äôs existing share issue capacity without shareholder approval. Total gross proceeds amount to CAD6.5 million and shares were placed to accredited North American and European investors. 

Company Quote

-0.0050 -5.00%
25 Jul 2014