Cardinal Resources Ltd (ASX:CDV) (TSE:CDV) Closes Bought Deal and Issues Cleansing Notice

2017-11-21 05:00:18

(MENAFN- ABN Newswire) Perth, Nov 22, 2017 AEST (ABN Newswire) - Cardinal Resources Limited () () ("Cardinal" or the "Company") is pleased to announce that it has closed its previously announced public offering (the "Offering") of ordinary shares ("Shares") on a 'bought deal' basis with a syndicate of underwriters (the "Underwriters") led by Clarus Securities Inc. An aggregate of 18,461,600 Shares were issued by the Company at a price of C$0.65 per Share, for aggregate gross proceeds of C$12,000,040.

The Company intends to use the net proceeds from the Offering to continue development at its Namdini Gold Project and exploration at the Company's other Ghanaian properties.

To view the full release, please visit:

About Cardinal Resources Ltd

() () () is an African gold-focused exploration and development company which holds interests in tenements within Ghana, West Africa. The Company is focused on the development of the Namdini project through a resource expansion drilling programme, pre-feasibility studies, detailed metallurgical test work, and process flowsheet studies. Exploration activity is also underway on the Company's Bolgatanga and Subranum Projects.

For more information on the Company, Investors should review the Company's filings that are available at

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