Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/financial/money/tangiers-places-5m-of-shares-for-upcoming-moroccan.shtmlTangiers places $5M of shares for upcoming Moroccan well
Tangiers Petroleum Limited resolved to place A$5 million worth of shares, before costs, through the private placement of 31.25 million
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Tangiers Petroleum Limited resolved to place A$5 million worth of shares, before costs, through the private placement of 31.25 million shares to specified wholesale, institutional and sophisticated investors at A$0.16 per share (Placement) in Australia, the United Kingdom and Hong Kong.
The Placement will be completed in two tranches consisting of: approximately 23.6 million shares issued in the first tranche pursuant to the Company's remaining 15% capacity under ASX Listing Rule 7.1; and a balance of approximately 7.5 million shares issued in the second tranche subject to shareholder approval at the Annual General Meeting of shareholders scheduled to be held in early June.
