SYDNEY (Yosefardi) – Sihayo Gold Limited is seeking to raise up to approximately $2 million (before costs) through a pro rata non-renounceable entitlement offer.
The company offers one fully paid ordinary shares in the capital of the company (share) for every 13 shares held by eligible shareholders on the record date at an issue price of $0.028 per share.
The proceeds will be used for working capital (60%) and repayment of loan facility (32.7%).
In February 5, 2014, the company entered into an interim loan agreement with Provident Minerals Pte Ltd, a shareholder of the company, pursuant to which Provident has agreed to make a loan facility of AUD650,000 available to the company.