🕐02.08.12 - 03:27 Uhr

AZIMUTH RESOURCES [ASX: AZH] - AZH UNDERTAKES $6M CAPITAL RAISING



MEDIA DISTRIBUTION BY
Azimuth Resources [ASX: AZH] 
http://www.azimuthresources.com.au/


AZH Undertakes $6m Capital Raising

Azimuth Resources Limited (ASX: AZH) has announced a capital raising of up to $6.0m to institutional investors.

Highlights: 

  • Proceeds of up to $6.0m before costs via the issue of up to 17,142,857 shares at $0.35 per share, the closing price of the Company’s shares on 31 July 2012.
  • Shares will be issued, subject to TSX approval, to existing and new Australian and Overseas institutional shareholders.
  • Blackswan Equities are lead brokers to the offer, with Macquarie Securities and Cormark Securities managing North American investors.
  • Funds to be used to continue the company’s resource expansion and prospect drilling at its West Omai gold project, Guyana.
The placement represents approximately 4.3% of the existing share capital, and provides funds to significantly progress work programs at the Company’s gold exploration projects in Guyana, and provides working capital and financial security for the Company in a turbulent global economic environment.
 
The placement will be completed under the Company’s 15% placement capacity (ASX listing rule 7.1).

The issue of the new shares is subject to TSX approval.

Click here for full announcement

For further information, please contact: 

 
Richard Monti
Executive Director
P + 61 8 9381 2488
F + 61 8 9388 3117
E
W www.azimuthresources.com.au
 
Media and Investor Enquiries:
 
Fortbridge
Bill Kemmery
T: +61 2 9003 0499
T: +61 400 122 449
E:
 
Carolyn Kerr
T: +61 2 9003 0477
T: +61 (0) 418 661 834
E:  






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