.genesisminerals has completed the bookbuild for its A$275million capital raise as part of a merger agreement with StBarbaraLtd gold consolidation mining resources investment
PERTH – ASX-listed Genesis Minerals has completed the bookbuild for a A$275-million conditional share placement, which forms part of its merger agreement with gold miner St Barbara.in the Leonora region of Western Australia, which would result in St Barbara spinning out its other assets into a newly formed company.Genesis said on Wednesday that the company had now closed the bookbuild for the A$275-million conditional placement and would issue 229.2-million shares at a price of A$1.20 each.
The placement is conditional on Genesis shareholders approving not only the issue of new shares under the placement, but also the scheme of arrangement with St Barbara to form Hoover House. “We are very pleased with the level of support shown by shareholders of both Genesis and St Barbara for the conditional placement, with the strong demand received representing a clear endorsement of the proposed combination.
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