Mirabela Nickel Capital Raising

Australian mining company, Mirabela Nickel (ASX:MBN) is seeking a capital raising to the value of $US135 to $US165 million. The new capital will be used for debt repayment dues as well as future growth plans with some of the funds to be allocated to operational expenses.

The company will raise the funds through an institutional share placement (with UBS and Macquarie Capital as joint lead managers) as well as share placement to directors and through a share purchase plan (an SPP, which will allow eligible Australian and New Zealand shareholders to subscribe up to $4995 of ordinary shares which will raise a maximum of $US10 million). Offers are expected to close simultaneously on Friday 17 September.