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Prospect Resources Ltd announces placement to investors

Sunday, 12 Jan 2014 05:48pm EST 

Prospect Resources Ltd:Says that it has entered into placing agreements to raise A$1,000,000 via the issue of 100 mln shares at A$0.01 each.Says subscribers include an Africa focussed private equity fund MBM Capital Partners LLP for A$750,000 and Sirius Trustees Ltd for A$100,000 respectively.Says these two subscription agreements are unconditional. Family interests associated with a director, Hugh Warner, have agreed to subscribe for A$150,000.The funds raised will be used for general working capital, to fund exploration on the Company‚Äôs Zimbabwe gold assets and to progress the previously announced litigation against Alexander Molyneux, Blumont Group Ltd and Pacific Advisers Pte Ltd. 

Company Quote

2 Nov 2014