Grangeh,Looks like your call about a placement to 'Sophisticated...

Grangeh,

Looks like your call about a placement to 'Sophisticated Investors'was spot on!

"The Directors of Riedel Resources Limited (“Riedel” or “the Company”, ASX: RIE) are
pleased to advise that the Company has completed a Share Placement offered to
sophisticated and professional investor clients of Oracle Securities in Australia and the UK.
The placement will raise up to $0.7 million before costs, with the issue of 9.33 million
ordinary shares at an issue price of $0.075 per share and free attaching unlisted option on
a 1:1 basis exercisable at 15¢ per share on or before 31 January 2016 (“Options”) as
follows;
- Up to 9.33 million new shares at 7.5¢ per share to raise circa $0.70 million to be issued
within the Company’s 10% placement capacity under Listing Rule 7.1A.
- Up to 9.33 million Options to be issued within the Company’s 15% placement capacity
under Listing Rule 7.1.
The free attaching unlisted options to be issued on a 1:1 basis, being up to 9.33 million
options, are to be issued under ASX Listing Rule 7.1, and will subsequently be put to
shareholders for ratification at a General Meeting to be held in January 2013."