Lachlan Star Announces First Close of Non-Brokered Private Placement
16.04.2013 | Marketwire
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATESPERTH, WESTERN AUSTRALIA -- (Marketwired - April 16, 2013) - Gold miner, Lachlan Star Limited ("Lachlan Star" or the "Company") (TSX:LSA)(ASX:LSA) is pleased to announce that it has closed on the first tranche of the previously announced non-brokered private placement.
A total of C$3.87 million has been subscribed for at a price of C$0.57 and the Company has authorised to be issued 6,765,000 ordinary shares to accredited North American and European investors.
As disclosed in the 4 April 2013 announcement regarding the private placement, the placement is subject to regulatory approvals. The Toronto Stock Exchange (TSX) has conditionally approved the private placement subject to the fulfilment of several conditions including:
- Satisfactory review of the Personal Information Form (PIF) for the manager of one subscriber who will hold more than 10% of the Company's ordinary shares post the placement, and
- Completion of the private placement by 17 May 2013
The PIF has been submitted to the TSX for review, which is expected to take approximately four weeks.
The Company has entered into subscription agreements for the full amount of the private placement totalling C$12.93 million and expects to close the remaining amounts in two further tranches prior to 17 May 2013.
To view the full announcement please click the link below:
http://www.lachlanstar.com.au/images/Placement160413.pdf
ABN: 88 000 759 535
Contact
Lachlan Star Limited
Sarah Beardmore
+61(8) 9481 6006
sarah.beardmore@lachlanstar.com.au
www.lachlanstar.com.au