Nov 29 (Reuters) - Buxton Resources Ltd (BUX) :
- ENTERED INTO BINDING AGREEMENTS WITH INDEPENDENCE GROUP
- IGO HAS SUBSCRIBED TO 15% OF BUXTON'S CAPITAL STRUCTURE VIA PLACEMENT OF 20.4 MILLION ORDINARY SHARES AT 20 CENTS PER SHARE
- PROCEEDS FROM PLACEMENT WILL BE USED TO FUND NEXT ROUND OF EXPLORATION AT MERLIN PROSPECT AND OTHER WORK
- PLACEMENT WILL RAISE APPROXIMATELY $4MLN FOR BUXTON
- AS PART OF AGREEMENTS, IGO HAVE COMMITTED TO BUXTON TO UNDERWRITE ANY RIGHTS ISSUE OF $2.3 MILLION WITHIN 12 MONTHS OF EXECUTION
