Pangea closes private placement
by Jo Black
Pangea DiamondFields plc has closed its previously announced private placement of 16.5 million ordinary shares at £0.46 per ordinary share for gross proceeds of approximately C$15 million (the ‘Offering’).
The Offering was placed by a syndicate led by RBC Capital Markets and including Ambrian Partners Limited.
Application has been made to the AIM Market of the London Stock Exchange (’AIM’) for 16.5 million ordinary shares to be admitted to trading on AIM. Admission of the ordinary shares to trading on AIM is expected to occur on 12 February 2008.
The net proceeds from the Offering will be used to advance the Company’s portfolio of ten projects located in the Central African Republic, Democratic Republic of the Congo, Angola and South Africa and for general corporate purposes.
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