SouthGobi Resources Ltd. (TSX:SGQ,HK:1878)(”SouthGobi” or the “Company”) advises it has made allocations under private placements as announced on June 22, 2015 with CITIC Merchant Co., Limited (“CITIC Merchant”) and Swiss Life Gestion Privée (“Swiss Life GP”) (together the “Investors”) as investors for the issue of new common shares in the Company (each, a “Common Share”).
The Investors have agreed to subscribe for 55,000,000 new Common Shares, for aggregate gross proceeds of up to approximately US$31.6 million.
CITIC Merchant's number of new Common Shares is 50,000,000 with gross proceed of USD 28.7 million owning the company's 17% , while Swiss Life GP's number of new Common Shares is 5,000,000 with gross proceed of USD 2.9 million and owning the company's 19%, totalling to 55,000,000 shares worth USD 31.6 million.
Southgobi Resources shares were issued at Toronto and Hong Kong stock Exchanges at 71 Canadian cents.
Southgobi Resources borrowed USD 8 million from Novel Sunrise Investments to finance the additional shares and other loans.
Currently the company is to liquidate interest rates to Turquoise Hill Resources and Chinese Investment Corporation.
SouthGobi Resources Ltd. (TSX:SGQ,HK:1878)(”SouthGobi” or the “Company”) advises it has made allocations under private placements as announced on June 22, 2015 with CITIC Merchant Co., Limited (“CITIC Merchant”) and Swiss Life Gestion Privée (“Swiss Life GP”) (together the “Investors”) as investors for the issue of new common shares in the Company (each, a “Common Share”).
The Investors have agreed to subscribe for 55,000,000 new Common Shares, for aggregate gross proceeds of up to approximately US$31.6 million.
CITIC Merchant's number of new Common Shares is 50,000,000 with gross proceed of USD 28.7 million owning the company's 17% , while Swiss Life GP's number of new Common Shares is 5,000,000 with gross proceed of USD 2.9 million and owning the company's 19%, totalling to 55,000,000 shares worth USD 31.6 million.
Southgobi Resources shares were issued at Toronto and Hong Kong stock Exchanges at 71 Canadian cents.
Southgobi Resources borrowed USD 8 million from Novel Sunrise Investments to finance the additional shares and other loans.
Currently the company is to liquidate interest rates to Turquoise Hill Resources and Chinese Investment Corporation.