Johannesburg based Gold One International (ASX/JSE:GDO) has closed the A$150 million subscription investment by consortium investor BCX Gold Investment Holdings.
Announced as far back as May, the agreement entailed BCX becoming a major shareholder of Gold One making a cash offer of $0.55 per share and injecting $150 million into the company.
Gold one has now issued and allotted 375,000,000 ordinary shares to BCX after receiving the A$150 million funds.
Following completion of the subscription, BCX Gold now holds 1,261,861,238 shares in Gold One (89.17%).
Gold One’s president and CEO Neal Froneman said “Today’s subscription is the final step in completing the Jintu Transaction, which has been transformational for Gold One.
"These funds, together with the significant ongoing cashflows from Modder East, give us the financial capacity to take the next steps in continuing to build Gold One into a significant international gold company."
Originally published at: http://www.proactiveinvestors.com.au/companies/news/23702/gold-one-international-closes-150m-transformational-investment-23702.html
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