Bell Potter is the agent; shares sold at A$0.20 in oversubscribed deal
By Devika Patel
Knoxville, Tenn., Aug. 31 - Platinum Australia Ltd. said it priced a A$4.94 million "significantly oversubscribed" private placement of shares. Bell Potter Securities Ltd. is the agent.
The company sold 24.7 million shares at A$0.20 apiece. The price per share represents a 4.76% discount to the Aug. 30 closing share price of A$0.21.
Settlement is expected Sept. 5.
Proceeds will be used for development and operational capital for the Smokey Hills project, exploration and development expenditures on the Kalahari Platinum and Rooderand projects, refinancing of the working capital facility with Macquarie Bank and for general working capital purposes.
Platinum Australia is a West Perth, Australia, miner of platinum group metals.
| Issuer: | Platinum Australia Ltd.
|
| Issue: | Shares
|
| Amount: | A$4.94 million
|
| Shares: | 24.7 million
|
| Price: | A$0.20
|
| Warrants: | No
|
| Agent: | Bell Potter Securities Ltd.
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 5
|
| Stock symbol: | Australia: PLA
|
| Stock price: | A$0.20 at close Aug. 31
|
| Market capitalization: | A$78.49 million
|
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