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Blackham Resources (ASX:BLK) – Funding Package Secured

Posted by Julian Beare in News | Posted on 30th Oct 2014 | 0 comments

Blackham Resources (ASX:BLK) has received commitments from investors for A$3.15m worth of shares at 11.5 cents Рthe Company has subscriptions for A$450k through a placement to sophisticated investors, and a further A£2.2m through a subscription agreement with Lanstead Capital, a UK based institutional investor.

The shares will be issued under the Company’s existing capacity under the ASX Listing Rules. In addition, the Company intends to offer its existing shareholders the opportunity to subscribe for a further 10m shares to raise A$1.15m, with BBY Limited committed to underwrite the offer to the amount of A$500k.

Net proceeds will be used to fund exploration and development studies at the Matilda Gold Project, and for working capital.

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