Indophil Resources plans A$89.24 million private placement of shares

Alsons Power Holdings is investor; Evercore is arranging the placement

By Devika Patel

Knoxville, Tenn., Dec. 12 - Indophil Resources NL said it will conduct an A$89.24 million private placement of stock with Alsons Power Holdings Corp. Evercore Partners is arranging the placement.

The company will sell 66,666,667 ordinary shares at A$0.45 each and 141,041,667 shares at A$0.42 apiece. The prices per share are identical and a 6.67% discount, respectively, to the Dec. 9 closing share price, A$0.45.

The placement will be conducted in two tranches with 66,666,667 shares to be issued in the first tranche for A$30 million by Dec. 29. The second tranche, 141,041,667 shares, will raise an additional A$59.24 million in February.

Based in Melbourne, Australia, Indophil is a gold and copper mining company.

Issuer:	Indophil Resources NL
Issue:	Ordinary shares
Amount:	A$89,237,500
Shares:	207,708,334
Price:	A$0.45 (for 66,666,667 shares), A$0.42 (for 141,041,667 shares)
Warrants:	No
Agent:	Evercore Partners
Investor:	Alsons Power Holdings Corp.
Pricing date:	Dec. 12
Settlement date:	By Dec. 29 (for A$30 million), February (for A$59,237,500)
Stock symbol:	Australia: IRN
Stock price:	A$0.445 at close Dec. 12
Market capitalization:	A$397.81 million

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