By Sheri Kasprzak
New York, Sept. 22 - Iberian Resources Ltd. said it plans to raise A$8.1 million from a private placement of stock.
The offering includes 27 million shares at A$0.30 each sold to institutional investors in Australia and the United States.
Proceeds from the deal will be used to acquire the Lichkvaz gold property in Armenia and to bring production to the project. The rest will be used for working capital.
KTM Capital is the placement agent.
Based in West Perth, Western Australia, Iberian is a gold exploration company.
| Issuer: | Iberian Resources Ltd.
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| Issue: | Stock
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| Amount: | A$8.1 million
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| Shares: | 27 million
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| Price: | A$0.30
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| Warrants: | No
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| Placement agent: | KTM Capital
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| Pricing date: | Sept. 22
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| Stock price: | A$0.35 at close Sept. 22
|
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