Cardinal Resources Ltd. Completes Second Tranche Placement
27.11.2015 | ABN Newswire
Perth, Nov 27, 2015 - Cardinal Resources Limited (ASX:CDV) ("the Company") is pleased to confirm that, further to the ASX releases dated 21 September and 30 September 2015, the Company has allotted 32,167,300 fully paid ordinary shares and 30,166,058 Options exercisable at $0.15 on or before 30 September 2019 ("Listed Options"), to raise a total of $3,216,730.HIGHLIGHTS
- Second Tranche Placement to Sophisticated Investors completed
- Placement to Macquarie Bank Limited completed
- Over $6.0 million raised since September 2015
The Company issued an additional 332,116 fully paid ordinary shares and 166,058 listed options to raise over $6.0 million in total since September 2015.
The Company now has the following shares and listed options on issue:
Fully Paid Ordinary shares 172,991,385
Options exercisable at $0.15 on or before 30 September 2019 117,587,039
Archie Koimtsidis, Managing Director of Cardinal, said: "We are very pleased with the strong level of support from new and existing shareholders who recognise the significant potential of our projects. We are pleased that the tremendous potential of our Ghanaian Projects is increasingly being recognised by a range of Sophisticated Investors."
About Cardinal Resources Ltd
Cardinal Resources Ltd (ASX:CDV) is a focused gold exploration and development company with its key assets located in the mineral-rich country of Ghana, West Africa.
Cardinal owns and operates 2 drill rigs and has in country infrastructure which allows it to be a low cost exploration and development company.
Contact
Archie Koimtsidis, Managing Director
Cardinal Resources Limited
P: +233 (0)26 190 52 20
Skype: cardinal.archie