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Cleveland Mining Company To Disclose Details Of Capital Raising

Cleveland Mining Company (ASX: CDG) has been granted a trading halt by the ASX today as it prepares to make a material announcement regarding a previously announced capital raising.

In February, the company said it had received firm commitments from institutional and sophisticated investors to raise $7 million.

The money raised will fund exploration and extensional drilling surrounding the Premier Gold Mine in Brazil as well as sampling programs and drilling at the Mara Rosa Gold Project, also in Brazil.

The capital raising comprised a $5.5 million placement and a $1.5 million underwritten share purchase plan both priced at $0.25 per share.

The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Monday 29 April.

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