Business
CGA Mining Limited and Ratel Gold Limited announce closing of the spin off of African assets and initial public offering
CGA Mining Limited and Ratel Gold Limited announce closing of the spin off of African assets and ...
About this update from St. Augustine Gold & Copper Ltd.
[{"type":"text","content":"\n\n\n\n Aug. 6, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO US NEWS WIRE SERVICES/\n\nPERTH, Australia, Aug. 6 /CNW/ - CGA Mining Limited (TSX: CGA, ASX:CGX) ("CGA") and Ratel Gold Limited (TSX: RTL) ("Ratel" or the "Company") are pleased to announce that the previously announced initial public offering of common shares (the "Offering") in Ratel has closed successfully. Pursuant to the Offering, Ratel today issued 70,000,000 common shares at a price of C$0.20 per common share, for aggregate gross proceeds of C$14 million. Haywood Securities Inc. acted as agent for the Offering pursuant to an agency agreement.\nThe common shares will begin trading today on the Toronto Stock Exchange under the symbol "RTL". The Company will be using the net proceeds of the Offering to fund exploration and feasibility activities at the Segilola Gold Project and the Mkushi Copper Project, plus general, administrative and working capital purposes.\n"We are pleased with the overwhelming support shown by CGA shareholders for the spin off of the African assets and believe Ratel Gold Limited, a new dedicated African focussed resources company will be well received by the market" said Michael Carrick, Chief Executive Officer of CGA and Director of Ratel.\nNo securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ''U.S. Securities Act''), or any state securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release is for information purposes only and does not constitu...