Sept 25 (Reuters) - Austsino Resources Group Ltd (ANS) :
- PROPOSED $100M PLACEMENT & STRATEGIC INVESTMENT IN SUNDANCE
- CO AND WESTERN AUSTRALIAN PORT RAIL CONSTRUCTION (SHANGHAI) HAVE AGREED TO $100 MILLION PLACEMENT OF AUSTSINO SHARES TO WAPRC
- WAPRC TO SUBSCRIBE FOR ABOUT 7.69 BILLION FULLY PAID ORDINARY SHARES AT 1.3 CENTS PER SHARE
- CO TO BUY 62.5 MILLION SHARES IN SUNDANCE RESOURCES LTD AT AN ISSUE PRICE OF A$0.004 PER SHARE
- FUNDS RAISED FROM PROPOSED WAPRC TRANSACTION IS INTENDED BY AUSTSINO TO PARTLY FUND PROPOSED SUNDANCE TRANSACTION
- SIGNS BINDING BUT CONDITIONAL AGREEMENT TO ACQUIRE MAJORITY INTEREST IN, AND EFFECTIVE CONTROL OF SUNDANCE RESOURCES FOR $58 MILLION
- CO ALSO WILL SUBSCRIBE FOR SECOND PLACEMENT OF 10.55 BILLION SHARES IN SUNDANCE AT AN ISSUE PRICE OF A$0.0055 PER SHARE
