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ASX-listed gold exploration company Viking Ashanti says it will raise equity capital of up to AU$415 000 through a placement of about eight million shares at AU$0.05 each, the placement of which will be to professional and sophisticated investors.

The placement will take the total issued capital of the company to 90 150 580 ordinary shares and 22 683 913 options exercisable at AU$0.18 on or before 31 August 2014.

The company said proceeds from the placement will be used to fund evaluation of a potential corporate transaction and for general working capital purposes.

Viking Ashanti is a Perth-based company focused on advanced gold exploration projects in Ghana, West Africa.

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