Jan 31 (Reuters) - Cradle Resources Ltd CXX.AX :
* 19.5 MILLION SHARES ISSUED TO INSTITUTIONAL AND SOPHISTICATED INVESTORS TO RAISE $2.3 MILLION
* RECEIVED CASH PROCEEDS OF $2.9 MILLION IN RELATION TO PREVIOUSLY ANNOUNCED PLACEMENT OF 44.6 MILLION SHARES AT ISSUE PRICE OF $0.12 PER SHARE