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Article: Ord River Resources Limited (ASX:ORD) Signs A 3 Year Term A$10 Million Subscription Agreement With China Non-Ferrous Metals International Mining Co. Ltd (CNMIM)
- Article from:
- abnnewswire.net
- Article date:
- August 27, 2009
- Author:
CopyrightCopyright 2009 ABN Newswire. (Hide copyright information)
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Ord River Resources Limited (ASX:ORD)(PINK:ORDRF) advises that it has signed a Subscription Agreement named "Equity Line Facility" ("the Facility") with China Non-Ferrous Metals International Mining Co. Ltd ("CNMIM") for A$10 million over the next three years.
Under the Facility, CNMIM shall subscribe for up to A$10 million over the next three years when required by ORD and upon mutual agreement. The funds will be used to fund projects, acquisition and general working capital. The subscribed shares will be priced at the volume weighted average price of ORD's ordinary shares quoted and traded on ASX during the 45 Business Days when the shares have traded prior to subscription.
The issue of ...