Sihayo Gold completes $13 million placement
Thursday, April 26 2012 - 02:28 AM WIB
Australia-listed firm Sihayo Gold Limited announced that it has received firm commitments for 86.7 million fully paid ordinary shares at $0.15 per share to raise $13 million before costs pursuant to the placement.
It said that the settlement of placement shares would take place in two tranches namely the issuance of approximately 43.35 million shares on Wednesday 2 May 2012 with quotation on Thursday 3d May 2012.
The tranche two consisting of approximately 43.35 million shares on Thursday 24th May 2012 with quotation on Friday 25th May 2012.
Proceeds raised will allow the company to pursue further resource definition drilling at the Sihayo Pungkut Gold Project, North Sumatra.
The new shares to be issued under the placement will rank equally with existing ordinary shares in Sihayo from their date of issue.
Editing by Adianto P. Simamora