Black Range Minerals Limited (ASX:BLR) announced that Azarga will become a strategic cornerstone investor in Black Range. Azarga will own approximately 19.9% of the total shares on issue in the Company.
As quoted in the press release:
Azarga has agreed to subscribe for 327,995,000 shares in Black Range at a price of $0.007 per share, for total consideration of $2,295,965. On allotment of the shares, Azarga will hold approximately 19.9% of the total shares on issue in the Company.