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BRIEF-Genesis Minerals says $0.7M secured to advance ulysses project

Published 23/07/2015, 11:10 am
© Reuters.  BRIEF-Genesis Minerals says $0.7M secured to advance ulysses project

July 23 (Reuters) - Genesis Minerals Ltd GMD.AX :

* $0.7M secured to advance ulysses project GMD.AX

* Says resource drilling to commence in August with a mining study on ulysses to be completed by December 2015

* Funds from the placement will be used for drilling to upgrade the confidence in the ulysses resource

* Says placement to sophisticated and professional investors via the issue of up to 70 million new shares at an issue price of $0.01

* Says placement price is $0.01 per share, which represents a 25% premium to the last traded price

* To issue up to 70 million new hares at an issue price of $0.01"

* Also under co's remaining capacity will issue 10 million shares to vendors of ulysses project to satisfy ulysses share sale agreement

* Source text for Eikon ID:nASX2V4PbZ

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