Paladin Energy Ltd
TSX : PDN
ASX : PDN

Paladin Energy Ltd

October 06, 2011 08:42 ET

Paladin Energy Ltd. Completes A$68 Million Private Placement

PERTH, WESTERN AUSTRALIA--(Marketwire - Oct. 6, 2011) -

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Paladin Energy Ltd ("Paladin" or "the Company") (TSX:PDN)(ASX:PDN)is pleased to announce that it has completed its previously announced institutional private placement (the "Private Placement") of ordinary shares with RBC Capital Markets and UBS AG, Australia Branch acting as Global Joint Lead Placing Agents.

The Private Placement consisted of the issuance of 56,866,232 ordinary shares of the Company at a price of A$1.20 per share, for gross proceeds of A$68,239,478.40. Paladin intends to use the funds raised to strengthen Paladin's balance sheet to ensure the Company is well placed to meet all future commitments and pursue identified growth initiatives.

ACN 061 681 098

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