Banro Corporation Announces Closure of $100 Million Financing

Banro Corporation (TSX:BAA, NYSE:BAA, AMEX:BAA) announced that they have closed financing for $100 million, intended partly to fund  development costs of their Namoya Project.

As quoted in the press release:

The Offering consisted of 50,218,634 Common Shares priced at C$1.35 per Common Share for gross aggregate proceeds of C$67,795,156 and 116,000 Series A Shares priced at US$25.00 per Series A Share for gross aggregate proceeds of US$2,900,000. The Concurrent Offering consisted of 1,200,000 Subco Shares and associated Series B Shares priced at US$25.00 per Subco Share and Series B Share for gross aggregate proceeds of US$30,000,000.

To view the whole press release, click here.