18/10/2006 - 10:56

International Goldfields to raise $3m for potential acquisition

18/10/2006 - 10:56

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Leederville-based International Goldfields Ltd has announced plans to raise $3 million through a placement to European investors, coming after the company raised $5 million in its May ASX float.

International Goldfields to raise $3m for potential acquisition

Leederville-based International Goldfields Ltd has announced plans to raise $3 million through a placement to European investors, coming after the company raised $5 million in its May ASX float.

The company has reached a conditional agreement with strategic European investors to place 20 million shares at an issue price of 15 cents per share, together with one free attaching option (exercisable at 15 cents on or before 30 June 2009) for every two shares placed.

The placement is subject to shareholder approval at the Company's Annual General Meeting on 21 November 2006. The funds raised will be used to fund a potential acquisition opportunity, which is close to finalisation.

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