Coventry Resources says its received firm commitments for a $12 million placement to accelerate and expand production at its Canadian gold project.
In a statement to the Australian Securities Exchange, Coventry said it will place 46.15 million new ordinary shares at a price of 26 cents per share.
Blackswan Equities is acting as sole placement agent for the company in regards to a $6 million placement in Australia.
Stifel Nicolaus Weisel is acting as sole placement agent in regards to a further $6 million placement to institutional and sophisticated investors in the UK and North America.
The placement will take place in two tranches.
As well as accelerating work at the Cameron gold project in Ontario, Coventry hopes to expand its diamond drilling program and pursue additional growth opportunities.
Aluminium, Copper, Crude, Gold, Lead, Natural Gas, Nickel, Silver, Zinc - These are involved in our life to that extent, we can't even dream to live without them. |
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