Company plans A$5.5 million rights issue as second part of fundraising
By Marisa Wong
Madison, Wis., Sept. 30 - Golden Rim Resources Ltd. announced it completed a A$5.6 million placement of stock with international and Australian institutional investors.
The company sold 40 million shares at A$0.14 each, which represents a 17.65% discount to the Sept. 20 closing share price of A$0.17.
The stock placement is the first part of a fundraising. As previously announced, the second part of the fundraising will be a rights issue to eligible shareholders to raise up to about A$5.5 million.
Patersons Securities Ltd. was the agent for the placement.
The West Perth, Australia-based copper and gold exploration and mining company is pursuing an active drilling program in Mali, Burkina Faso and Sweden.
| Issuer: | Golden Rim Resources Ltd.
|
| Issue: | Shares
|
| Amount: | A$5.6 million
|
| Shares: | 40 million
|
| Price: | A$0.14
|
| Agent: | Patersons Securities Ltd.
|
| Announcement date: | Sept. 23
|
| Settlement date: | Sept. 30
|
| Stock symbol: | Australia: GMR
|
| Stock price: | A$0.16 at close Sept. 30
|
| Market capitalization: | A$50.47 million
|
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