Sihayo Gold Limited (ASX:SIH) Completes A$15 Million Placement
Perth, April 15, 2011 AEST (ABN Newswire) - Sihayo Gold Limited (ASX:SIH) is pleased to announce that it has received firm commitments for 75 million fully paid ordinary shares at A$0.20 per share to raise $15 million before costs pursuant to the placement announced on 14 April 2011.
The placement bookbuild was heavily oversubscribed and closed with strong demand from both existing and a number of new institutional and sophisticated investors. Placement shares are expected to be allotted and issued on Thursday, 28 April, the trading day after settlement. The new shares to be issued under the placement will rank equally with existing ordinary shares in Sihayo from their date of issue.
For further information about Sihayo or the capital raising, please contact:
Paul Willis, Chief Executive Officer, Sihayo Gold Limited: +61-8-9368-4544
About Sihayo Gold Limited
Sihayo Gold Limited (ASX:SIH) is a mineral exploration company with exploration projects in Indonesia.
With recent exploration successes at the company's Sihayo Gold Project, the Board of Sihayo Gold is focused on developing Sihayo Gold to a mining stage to generate maximum shareholders value.
Sihayo Gold is managed by a highly skilled and dedicated team. This team is firmly committed to increasing the value of the company through focused exploration on projects in highly prospective regions.
Management has assembled a high quality portfolio mineral asset that provides an excellent foundation for the company to move from explorer into miner.
Sihayo Gold Limited