Perth, Dec 4, 2008 AEST (ABN Newswire) - Northern Mining Limited (ASX:NMI) is pleased to announce that despite the difficult market, the renounceable rights issue announced by the Company on 28 October 2008 has closed on 03 December 2008 with strong support from its shareholders.
The number of shares taken up by eligible shareholders was 28,457,644, or approximately 46% of eligible shares on offer.
Alan Lockett, the executive Chairman commented: "We are very pleased with the outcome of the rights issue which faced some of the most difficult market conditions we have seen, but ended up well supported by shareholders.
This shows that Northern Mining continues to have a very strong and supportive share register."
The rights issue raised approximately $0.57million before costs of the issue. The funds will be used to enhance Company's assets, retire short term debt and for working capital, as described in the prospectus.
The holding statements for new securities will be dispatched shortly.
For further information please contact Ross Kestel or the undersigned on 9244 8499.
Contact
Ross Kestel
Telephone (08) 9244 8499
or
CRAIG DAWSON
CHIEF EXECUTIVE OFFICER
Telephone (08) 9244 8499
Facsimile (08) 9244 3166
Website www.northernmining.com.au
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