TRANCHE 1 PLACEMENT COMPLETED
Segue Resources Limited (Segue or the Company) is pleased to announce that it has successfully raised $760,000 (before fees) through the issue of 38,000,000 shares at $0.02 per share to sophisticated and institutional investors. This represents the Tranche 1 Shares as outlined in the Company's announcement Capital Raising Via Pro-Rata Non-Renounceable Rights Issue & Placement (6 July 2011). The placement was conducted by Patersons Securities Limited as Sole Lead Manager.
The funds raised will be used, in conjunction with existing cash reserves, to make the first payment to Emang Mmogo Mining (Pty) Limited of Z R7,000,000 in relation to Segue's proposed acquisition of a 51% interest in the Emang Manganese Project in South Africa. For further details, refer to the Company's announcement Segue to Acquire 51% Interest in the Emang Manganese Project, South Africa(6 July 2011).
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