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Red Gum Resources Ltd Announces Placement Completed At Nil Premium


Monday, 4 Nov 2013 05:30pm EST 

Red Gum Resources Ltd announced that it has undertaken a placement to sophisticated investors at $0.02 cents per share to raise $300,000 – prior to costs. The funds raised represent a nil premium to the last closing share price. 15 million new shares will be issued pursuant to this Placement, the Shares ranking equally with Shares which the Company currently has on issue. Shareholder approval is not required in relation to the issue of these new shares. The funds raised are to be used to undertake necessary technical and legal due diligence associated with formation of a possible alliance with Rio Perdido Copper Limited, as well as existing working capital. D J Carmichael Pty Ltd and Sanston Financial Group Limited assisted with the placement. 

Company Quote

0.0060
0.0010 +20.00%
31 Oct 2014