Peak Resources Limited (ASX:PEK) Announce Share Placement to Sophisticated Investors
Perth, July 7, 2011 AEST (ABN Newswire) - Peak Resources Limited (
ASX:PEK) is pleased to advise that it has agreed to place 2,784,500 shares at an issue price of 55 cents per share to raise gross funds of A$1,531,475.
Shares are being placed to institutional and sophisticated investor clients of Shaw Stockbroking Limited under the provisions of Section 708 of the Corporations Act. The issue represents the completion of the placement of shortfall shares from the Company's SPP that was announced on 6 May 2011 and disclosed in the SPP documents issued on 13 May 2011.
The placement completes the Company's programme as announced on 6 May 2011 and provides a further level of liquidity to augment existing reserves being applied to RC and Diamond drilling costs at the Ngualla Project in Tanzania.
The Company anticipates proceeding to allotment of securities under the placement on or before 13 July 2011. Application is being made for quotation of securities on ASX.
About Peak Resources Limited
Peak Resources Limited (ASX:PEK) is focused on delivering our high-grade Ngualla rare earth project via a sequenced development approach to enable low carbon technologies to power the green transformation.
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