Cardinal Resources Ltd.: Completes Second Tranche Placement

10.05.2016  |  ABN Newswire

Perth, Australia - Cardinal Resources Ltd. (ASX:CDV) is pleased to confirm that following the approval at the General Meeting of Shareholders, held on 27 April 2016, the Company has allotted 6,416,670 fully paid ordinary shares at $0.12 per share.

The Company now has the following shares and listed options on issue:

Fully Paid Ordinary shares: 222,074,697
Options exercisable at $0.15 on or before 30 September 2019: 117,587,039

Archie Koimtsidis, Managing Director of Cardinal, said:

"We are very pleased with the strong level of support from new and existing shareholders who recognise the significant potential of our projects.

"We are pleased that the tremendous potential of our Ghanaian Projects is increasingly being recognised by a range of Sophisticated Investors."

To view the Appendix 3B and Cleansing Notice, in respect to the securities issued pursuant to the second tranche placement, please visit:
http://abnnewswire.net/lnk/D45C3267


About Cardinal Resources Ltd:

Cardinal Resources Ltd. (ASX:CDV) is a focused gold exploration and development company with its key assets located in the mineral-rich country of Ghana, West Africa.

Cardinal owns and operates 2 drill rigs and has in country infrastructure which allows it to be a low cost exploration and development company



Contact:

Archie Koimtsidis, Managing Director
Cardinal Resources Ltd.
P: +233 (0)26 190 5220
Skype: cardinal.archie