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Allegiance Coal Ltd (ASX:AHQ) has successfully completed a share placement to institutional and sophisticated investors to raise $3.7 million at $0.03 per share.
Allegiance Coal (ASX:AHQ) has been granted a trading halt by the ASX, pending details in relation to the results of the Pre-Feasibility Study at the Telkwa Metallurgical Coal Project.
Allegiance requested the halt pending a shareholders meeting being held today to, inter alia, approve the acquisition of Telkwa Coal Limited.
The halt will remain in place until the opening of trade on Thursday 20th October 2016, or earlier if an announcement is made to the market.
* TCL has right to earn up to a 90 percent interest in Telkwa project in exchange for staged milestone payments
Altius to retain a 3 - 4.5% GSR royalty, minority interest in Telkwa project and shareholding in Allegiance
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Allegiance Coal Ltd (ASX:AHQ) has been granted a trading halt by the ASX, pending details of a material acquisition. The halt will remain in place until the opening of trade on Friday 16th September 2016, or earlier if an announcement is made to the market.