Dec 5 (Reuters) - West African Resources Ltd (WAF) :
- IS CONDUCTING A FULLY UNDERWRITTEN INSTITUTIONAL PLACEMENT TO RAISE ABOUT A$43.17 MILLION AT A PRICE OF A$0.25/ EARNINGS PER SHARE
- FOR DEVELOPMENT OF SANBRADO GOLD PROJECT, CREDIT APPROVED FOR US$200 MILLION FINANCE FACILITY WITH TAURUS FUNDS MANAGEMENT PTY
- CONDUCTS NON-UNDERWRITTEN SHARE PURCHASE PLAN OF UP TO A$15,000 PER ELIGIBLE SHAREHOLDER, SUBJECT TO OVERALL CAP OF A$5.0 MILLION
- GROSS PROCEEDS RAISED UNDER EQUITY RAISING AND DEBT FACILITY WILL BE USED TO FUND SANBRADO DEVELOPMENT COSTS
- "NOW FULLY FUNDED & LOOKING FORWARD TO GETTING SANBRADO INTO PRODUCTION IN SECOND HALF OF 2020"
Source text (http//reut.rs/2E12cD5)
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