22nd Jun 2015 16:11
LONDON (Alliance News) - Sefton Resources Inc Monday said it has issued 16.6 million shares at 0.065 pence per share to Magna Group LLC.
The issue price is the same as the price of the placing announced last Wednesday, and those shares were issued to Magna in accordance with the terms of the financing facilities provided by Magna that was sealed in January 2014, as a substitution for the 5.1 million warrants held by Magna, it said in a statement.
The placing conducted last Wednesday consisted of issuing 1.23 billion shares at the discounted price, raising GBP799,500 in total. It also issued 615 million warrants to subscribe for shares at the same price.
Sefton shares closed up 3.5% to 0.104 pence per share on Monday.
By Joshua Warner; [email protected]; @JoshAlliance
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