Luiri Gold Limited: Private Placement of AUD$1.15 Million
August 26 2011 - 12:35PM
Marketwired
Luiri Gold Limited ("Luiri" or the "Company") (TSX VENTURE:
LGL)(ASX: LGM) announces it has received subscription agreements
from sophisticated investors committing to subscribe to AUD$1.15
million by way of a private placement of 10,000,000 common shares
at an issue price of AUD$0.115.
The Company intends to use the proceeds raised from the private
placement to continue the Company's endeavours to resolve the
various title issues related to its Zambian mineral tenement
holdings and for general working capital.
Once the funds from the private placement are received, the
Company's cash holdings will increase to approximately AUD$3
million leaving Luiri well placed to commence an aggressive
exploration campaign on the Zambian tenements should the Company be
successful in resolving all title issues related to its Zambian
mineral tenement holdings.
The private placement will be made on a non-brokered basis and
is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals, including the approval of the
TSX Venture Exchange and all applicable securities regulatory
authorities. Securities issued pursuant to this offering will be
subject to a 4 month hold period. An ASX Appendix 3B will be
available on the Company's website.
On behalf of the Board of Directors of the Company,
Mike Langoulant
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Luiri Gold Limited Mike Langoulant Corporate Secretary
+61 8 6313 5155 +61 8 9324 2977 (FAX) info@luirigold.com
www.luirigold.com
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