Challenger raises fund to finance Tabang coal project

Canadian firm Challenger Deep Resources Corp. announced on Thursday that it has successfully closed its non brokered private placement consisting of 2,250,000 units for gross proceeds of C$1,350,000.

The proceeds from the Private Placement will be used for the continued exploration and development of the Company's Tabang Coal Project in East Kalimantan , and for general corporate purposes, the company said. (romel)