CityView Corporation raises $2.6m in placement

Perth-based CityView Corporation Ltd has raised $2.6 million in a placement to fast track a minerals drilling program and further develop projects in Cameroon and Angola, the company has announced.

The full text of a company announcement is pasted below

CityView Corporation Limited ("CityView") is pleased to announce that it has successfully completed the placement of 21.2 million ordinary shares at $0.125 per share to raise $2.65 million. For every two shares issued in the placement one free attaching unlisted option with an exercise price of $0.15 (15 cents) will be issued to investors exercisable any time up to 30 November 2009. Intersuisse Corporate Pty Ltd acted as manager to the placement, with the participation from local and overseas sophisticated and other investors under Section 708 of the Corporations Act.

The Company will utilise the funds raised through this placement to fast track its drilling programme at the Longonjo minerals project and the development of its North Matanda PH72 project in Cameroon and the Kwanza Basin negotiations in Angola.