viewLydian International Ltd.

Lydian shares up 20% after stockholders approve $80mln finance

Lydian International shares gain more than 20% on Wednesday after the company announces shareholder approval of private placements worth $80mln

Shareholders approve private placement funding

Lydian International (TSE:LYD) shares gained more than 20% on Wednesday after the company announced shareholder approval of private placements worth $80mln.

At the extraordinary general meeting of shareholders held on May 18, a total of 87.1% of shareholders approved the private placements with Orion CO-IV (ED) Ltd. and Resource Capital Fund VI LP (RCF) and issuance of certain warrants to Orion CO-IV (SO) Ltd. and RCF in connection with a credit facility dated November 30, 2015.

Lydian is an emerging gold developer, focused on its 100%-owned Amulsar Gold Project in Southern Armenia.

Lydian shares were up 21.3% at C$0.37 on Wednesday.

Quick facts: Lydian International Ltd.

Price: 0.075 CAD

Market: TSX
Market Cap: $57 m

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Lydian International Ltd. chief excited about "beginning" of Amulsar project

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on 15/8/16

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