Celamin Holdings executive director becomes a substantial shareholder

Celamin Holdings (ASX: CNL) executive director David Regan has shown a vote of confidence in the company by becoming a substantial shareholder with a 6.23% interest.

Regan increased his shareholding by 2 million shares on 4 January for a consideration of A$200,000, providing an average entry price of $0.10 per share. He now owns 3.4 million shares in Celamin.

Celamin is in the process of boosting its bank balance and its board expertise as it advances its Bir El Afou Phosphate Project in Tunisia and works towards a due diligence drilling program for its farm in to an Exploitation Permit at the Oued El Kabir precious and base metal project in Algeria.

Last week the company appointed Andrew Thomson as non-executive chairman to help build the company’s portfolio of assets into a business in North Africa.

Celamin also raised A$700,000 from a non-brokered private placement which the company will use as working capital and Celamin Limited, which holds the North African phosphate and base metals assets and is in the process of being acquired by Celamin Holdings, will use to continue with its phosphate work program in Tunisia.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/23917/celamin-holdings-executive-director-becomes-a-substantial-shareholder-23917.html