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Orion Gold NL raises A$1.5 mln in SPP to fund exploration at Fraser Range project

Tuesday, 15 Apr 2014 08:00pm EDT 

Orion Gold NL:Says that it has underwriting commitments of A$1.5 mln for share purchase plan.Maximum amount to be raised under SPP is A$2.7 mln at A$0.045 a share.Proceeds from SPP, which is being done at 17 pct. discount to five-day VWAP, will be used to fund next round of exploration, including drilling, at Orion’s Fraser Range project in WA and for working capital.Shareholders who are recorded on share register on April 15, with registered address in Australia or New Zealand, and certain shareholders in United Kingdom, Singapore, South Africa, Mauritius or British Virgin will be eligible to participate in SPP.SPP is expected to close on May 16. 

Company Quote

-0.0010 -2.63%
17 Apr 2015