Hazelwood Resources Ltd. (ASX:HAZ) announced that it has raised $500,000 by executing a binding subscription agreement with a foreign-domiciled, Vietnam-focused investment fund.
As quoted in the press release:
The Placement has been completed on the same terms as the placement announced to the ASX on 19 May 2014, which was at 3.5 cents per share, with 1 (one) attaching option for every 2 (two) shares subscribed in the Placement, exercisable at 5.5 cents each on or before 27 November 2016. The Placement pricing reflects a premium to Hazelwood’s last close price of 3.3 cents.
The Board of Hazelwood views this investment as a strong vote of confidence in the Company’s ATC Ferrotungsten operation and growth prospects.