By Sheri Kasprzak
New York, May 4 - North Australia Diamonds Ltd. priced a A$3.76 million private placement.
The company intends to sell 80 million shares at A$0.047 each to a group of sophisticated and professional investors.
The proceeds will be used for the expansion of the company's plant capacity at the Merlin field and for ongoing exploration at Merlin.
Located in Perth, Western Australia, North Australia is a diamond exploration company.
| Issuer: | North Australia Diamonds Ltd.
|
| Issue: | Stock
|
| Amount: | A$3.76 million
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| Shares: | 80 million
|
| Price: | A$0.047
|
| Warrants: | No
|
| Pricing date: | May 4
|
| Stock symbol: | Australia: NAD
|
| Stock price: | A$0.048 at close May 4
|
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