Rockwell completes C$8,3m rights offer
posted on
Mar 29, 2010 08:04AM
http://www.miningweekly.com/article/rockwell-completes-c83m-rights-offer-2010-03-26
Rockwell completes C$8,3m rights offer
By: Chanel Pringle
26th March 2010
JOHANNESBURG (miningweekly.com) – JSE- and TSX-listed Rockwell Diamonds has successfully completed a C$8,3-million (R59,8-million) rights offering, thereby concluding its initial plans to recapitalise its balance sheet.
It announced on Friday that following the rights offering, it would issue 92,7-million common shares at C$0,05 a share, yielding C$4,6-million.
Further, a small number of other investors would then also purchase 57-million shares at $0,06 a share, resulting in further proceeds of C$3,7-million.
The rights offering was the final portion of a process to raise C$16,0-million through a combination of private placement and rights offering.
"This is another step in the company’s strategy to become a leading alluvial gemstone miner through growth and acquisition with support from our existing and new strategic shareholders," commented CEO John Bristow.
Edited by: Mariaan Webb
