LONDON (Alliance News) - Rambler Metals and Mining PLC Wednesday said it now has a 3.1% stake in Marathon Gold Corp after it undertook the second tranche of a subscription deal it had agreed back in December.
Under this second tranche of the subscription, Rambler bought 797,448 Marathon shares at a price of USD0.3135 a share.
The latest non-brokered private placement by Marathon generated proceeds of USD250,0000, meaning it has now raised USD500,000 through the subscription deal. Rambler still has an option to invest a further USD1.5 million in Toronto-based Marathon.
Rambler Metals & Mining shares were down 1.7% at 29 pence Wednesday.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
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