Hill End Gold (ASX: HEG) has announced a placement to sophisticated and professional investors, raising $177,800 via the issue of 1,975,556 shares at $0.09 per share plus 987,778 attached Options.
These together with the placement announced on 28 July 2010 totals 10,308,888 new HEG fully paid shares issued plus 5,154,444 attached unlisted Options.
The Options are exercisable at 15 cents per share and expire 28 February 2012.
The funds will be used to continue HEG’s drilling programs at the Hargraves and Hill End Projects.