PLACEMENT TO PROGRESS GEORGE PROJECT
- Strong demand from sophisticated investors via a $0.83 million Placement.
- Participants in the Placement will be issued unquoted options on a 1 for 2 basis. Options will have an exercise price of $0.008 per Share and expiry of 30 June 2026.
- Funding enables progress of the George Project in South Australia (High Purity Silica Sand) exploration program and working capital.
Resolution Minerals Ltd (ASX: RML) is pleased to announce it has received firm commitments for a placement of fully paid ordinary shares in the Company (Shares) to sophisticated investors to raise a total of $0.83 million (before costs) at an issue price of $0.005 per Share (Placement) to progress exploration at the Company’s George Project in South Australia.
Participants in the Placement will also be issued one option to acquire Shares (Option) for every two (2) Share issued under the Placement, for no additional consideration. The Options will have an exercise price of $0.008 per Share and expiring on 30 June 2026 – key terms included in this announcement.
Funds received from the $0.83 million Placement will be used to progress exploration at the Company’s George Project in South Australia and for working capital.
A total of 165,043,898 shares will be issued at $0.005 per share to raise $825,219.50 under the Placement – 57,069,279 shares and 82,521,949 Options will be issued under the Company’s 15% placement capacity under Listing Rule 7.1 and a further 107,974,619 Shares will be issued under the Company’s 10% placement capacity under Listing Rule 7.1A.