TAW - Tawana Resources NL - Placement Release Date: 16/03/2011 09:55:00 Code(s): TAW
TAW - Tawana Resources NL - Placement
Tawana Resources NL
(Incorporated in Australia)
(Registration number ACN 085 166 721)
Share code on the JSE Limited: TAW
Share code on the Australian Stock Exchange Limited: TAW
("Tawana" or "the Company")
Tawana Resources NL (ASX: TAW) is pleased to announce that it has appointed BGF
Equities as Lead Manager in the placement of 100 million shares at 4.5Cents
(USD) per share, to raise $4.5m before costs, pursuant to the placement facility
recently approved by shareholders in general meeting.
BGF Equities has advised the Company that it has received firm commitments and
settlement and issue of the new shares is expected towards the middle of next
Funds raised by the placement will be used primarily to advance exploration
activities in Liberia, to fund initial drilling on targets defined and as
working capital for Tawana`s West African growth plans.
PricewaterhouseCoopers Corporate Finance (Pty) Ltd
16 March 2011
Date: 16/03/2011 09:55:00 Supplied by www.sharenet.co.za
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