CBM Asia to raise $3m to fund exploration
Thursday, September 17 2009 - 12:16 AM WIB
Canadian firm CBM Asia Development Corp. announced Wednesday that it has arranged a private placement for gross proceeds of CDN$3,000,000.
The net proceeds of the private placement will be used to fund the exploration and development of the company's CBM interests in Indonesia and for general working capital purposes.
The company has interest in several CBM concessions in South Sumatra and Kalimantan. (alex)