C @ Limited (ASX: C @, or the Company) is pleased to announce that it has completed the issue of 34,000,000 shares under the priority and general share offers to raise a total of $17,000,000.
In accordance with the terms of the Share Sale Agreement dated 26 October 2011, the Company has remitted a payment of US$7,670,000 to Peabody-Winsway Resources LLC as consideration for the acquisition of BDBL LLC, a Mongolian company which owns eight highly prospective Mongolian coal licences located in the Ovorhangay and South Gobi provinces.
Further details regarding the acquisition and the licences are set out in the Company’s prospectus dated 9 November 2011.
As approved by shareholders at the Annual General Meeting on 30 November 2011, the Company has also issued a total of 2,950,000 options and 500,000 performance rights. An appendix 3B for the capital raising shares, options and performance rights follows this announcement.
Cheers
Sheeza
CEO Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Not Held
