Perth, Nov 22, 2017 AEST (ABN Newswire) - Cardinal Resources Limited (ASX:CDV) (TSE:CDV) ("Cardinal" or the "Company") is pleased to announce that it has closed its previously announced public offering (the "Offering") of ordinary shares ("Shares") on a 'bought deal' basis with a syndicate of underwriters (the "Underwriters") led by Clarus Securities Inc. An aggregate of 18,461,600 Shares were issued by the Company at a price of C$0.65 per Share, for aggregate gross proceeds of C$12,000,040.

The Company intends to use the net proceeds from the Offering to continue development at its Namdini Gold Project and exploration at the Company's other Ghanaian properties.

To view the full release, please visit:
http://abnnewswire.net/lnk/WJ9B4102


About Cardinal Resources Ltd

Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) (OTCMKTS:CRDNF) is a West African gold-focused exploration and development Company which holds interests in tenements within Ghana, West Africa.

The Company’s Namdini Project has a declared Indicated Mineral Resource of 120 Mt @ 1.1 g/t for 4.3 Moz Au and an Inferred Mineral Resource of 84 Mt @ 1.2 g/t for 3.1 Moz (refer to Cardinal “Technical Report on Namdini” dated 11 September 2017). The Company is focused on the development of the Namdini Project through a resource expansion drilling programme and continues to advance the PEA / Scoping Study which is now due for release in Q1 2018. In parallel, a pre-feasibility study is progressing supported by additional multi-disciplinary engineering activities. Exploration activity is also underway on its large portfolio of regional exploration Licenses.

For more information on the Company, Investors should review the Company’s filings that are available at http://www.sedar.com

 


Contact

Archie Koimtsidis
CEO / MD
Cardinal Resources Limited
P: +61-8-6558-0573

Alec Rowlands
IR / Corp Dev
Cardinal Resources Limited
P: +1-647-256-1922



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