Xanadu Mines (ASX:XAM) has successfully completed a placement to domestic and international institutional and sophisticated investors raising $10 million at A$0.17 per share.
The suspension of trading securities will be lifted immediately.
Xanadu continues to have strong support from existing shareholders and demand from new investors, driven by Xanadu’s recent exploration success at its flagship Kharmagtai copper-gold project in Mongolia’s South Gobi Region.
The Placement is scheduled to settle on Monday, 25 June 2018 with allotment and trading to occur on Tuesday, 26 June 2018.
Shares in Xanadu Mines (ASX:XAM) are trading 10 per cent lower at 18 cents.