06:31:05 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Xanadu Mines Ltd
Symbol XAM
Shares Issued 648,044,131
Close 2019-08-20 C$ 0.055
Market Cap C$ 35,642,427
Recent Sedar Documents

Xanadu raises $1.26-million from shortfall placement

2019-08-22 09:06 ET - News Release

Dr. Andrew Stewart reports

NON-RENOUNCEABLE RIGHTS ISSUE SHORTFALL PLACEMENT

Xanadu Mines Ltd. was advised that, as disclosed in the non-renounceable rights issue offer document, Patersons Securities Ltd., who acted as lead manager, and the directors of Xanadu reserved the right to place any of the remaining shortfall shares at or greater than the rights issue price of 5.2 cents per share.

Xanadu is pleased to advise that 24,411,099 shortfall shares have been placed at 5.2 cents per share, raising $1,269,377.15, with settlement due to occur on Tuesday, Aug. 27, 2019.

Xanadu's chief executive officer, Dr. Andrew Stewart, said: "On behalf of the board of Xanadu Mines, I would like to thank all shareholders who have participated in this issue of shortfall shares, which brings the total funds raised under the non-renounceable rights issue to approximately $3.37-million, enabling the company to progress its flagship Kharmagtai copper-gold project. We are grateful for the continued strong support of our major shareholders."

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