22/11/2007 - 12:20

India Resources raises $2.2m in placement

22/11/2007 - 12:20

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West Perth-based minerals explorer India Resources Ltd has completed a placement, raising $2.2 million through the issue of 11 million shares at 20 cents each.

West Perth-based minerals explorer India Resources Ltd has completed a placement, raising $2.2 million through the issue of 11 million shares at 20 cents each.

 

 

The full text of a company announcement is pasted below

India Resources Limited ("Company") announced a placement to institutional and sophisticated investors on 13 October 2007. The Company is pleased to advise that the placement has been completed and the Company has raised $2.2 million (before costs) through the placement of 11,073,128 fully paid shares with a free attaching option, at a price of 20 cents each.

The Company gives notice under section 708A (5) of the Corporations Act 2001 (Cth) ("Act") that:

1. the Company issued the Securities without disclosure to investors under Part 6D.2 of the Act;

2. as at the date of this notice, the Company has complied with:
(a) the provisions of Chapter 2M of the Act as they apply to the Company; and
(b) section 674 of the Act; and

3. as at the date of this notice, there is no information to be disclosed which is excluded information (as defined in section 708A(7) of the Act) that is reasonable for investors and their professional advisers to expect to find in a disclosure document.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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