BLR 0.00% 0.2¢ black range minerals limited

Two things

  1. buc
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    1. Reason for Azarga off market sale at 0.8c?

    Powertech Announces $5.0 Million Private Placement

    Wednesday, September 10th 2014

    The proceeds of the Financing will be used for: continuation of the permitting process for the Dewey Burdock Uranium Project; land and claim payments with respect to the Company's five directly controlled projects in the USA and Kyrgyz Republic; exploration; and general working capital purposes.

    The Financing was strongly supported by sophisticated and strategic international investors, who have committed to subscribe for in excess of $3.0 million.

    Furthermore, approximately $1.2 million is being taken up by management and insiders of Powertech and/or Azarga Resources Limited ("Azarga").

    Read more:

    2. Blumont takes 43% stake in uranium miner

    BLUMONT Group now holds a 43.08 per cent stake in privately held uranium miner Azarga Resources after converting US$19.1 million worth of convertible notes.

    The notes were converted into Azarga stock at 50 US cents per share. Azarga is not listed, so there is no open-market price available for the shares.

    The notes were issued as part of a convertible facility provided by Blumont's wholly-owned subsidiary Powerlite Ventures to Azarga, under which Azarga could draw up to US$21 million in cash.
    As part of the facility, Azarga will issue convertible notes to Powerlite upon drawing down the facility, with the notes to be eventually converted to Azarga shares at 50 US cents per share.
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