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Titanium Resources announces $25 million through placement

Posted on: Thu, 19 Nov 2009 13:19:00 EST

Symbols: TNUMF

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Nov 19, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
TNUMF | Quote | Chart | News | PowerRating -- Titanium Resources Group, Ltd., a Sierra Leone-based mining company, has raised approximately GBP15.1 million through a private placement.

Titanium Resources has conditionally placed 151,200,000 new ordinary shares at a price of GBP0.1 per share.

Arbuthnot Securities, Ltd., Mirabaud Securities Limited and Auerbach Grayson & Company, Inc. have acted as placement agents to Titanium Resources.

Deal Value (US$ Million) 25
Deal Type                Private Placement
Sub-Category             None
Deal Status              Completed: 2009-11-16

Deal Participants

Target (Company)   Titanium Resources Group, Ltd.
Acquirer (Company) Undisclosed Investors

Deal Rationale

Titanium Resources will use the proceeds to fund projects for increasing the production and processing capacity at Sierra Rutile Mine.

Offer Price ($ per share) 0.16
No. Shares Issued         151200000

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