A$40.8M Placement Successfully Completed
Perth, Feb 24, 2021 AEST (ABN Newswire) - Deep Yellow Limited (
ASX:DYL) (JMI:FRA) (DYLLF:OTCMKTS) is pleased to confirm that the placement announced on 18 February 2021 (Placement) has been successfully completed.
Accordingly, the Company has today issued 62,768,803 ordinary fully paid shares (Shares) to qualified, institutional, sophisticated and professional investors at A$0.65 per Share to raise approximately $40.8 million (before costs).
Euroz Hartleys Securities Limited and Aitken Murray Capital Partners Pty Ltd acted as Joint Lead Managers to the Placement.
Commenting on the successful Placement, Deep Yellow's Managing Director & CEO, John Borshoff said:
"It is worth repeating that this highly successful fundraising has put the Company in a strong financial position making us better able to execute on the multiple potentially wealth creating activities we have under consideration.
"The strengthening of our balance sheet comes at an appropriate time with a busy 18 months ahead as we complete the Tumas DFS, continue exploration across the Reptile and Nova projects and advance targeted M&A opportunities.
"Additionally, we are confident in raising a further $2M from the SPP which will allow eligible shareholders to participate in this capital raising."
About Deep Yellow Limited
Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) is successfully progressing a dual-pillar growth strategy to establish a globally diversified, Tier-1 uranium company to produce 10+Mlb p.a.
The Company's portfolio contains the largest uranium resource base of any ASX-listed company and its projects provide geographic and development diversity. Deep Yellow is the only ASX company with two advanced projects - flagship Tumas, Namibia (Final Investment Decision expected in 1H/CY24) and MRP, Western Australia (advancing through revised DFS), both located in Tier-1 uranium jurisdictions.
Deep Yellow is well-positioned for further growth through development of its highly prospective exploration portfolio - ARP, Northern Territory and Omahola, Namibia with ongoing M&A focused on high-quality assets should opportunities arise that best fit the Company's strategy.
Led by a best-in-class team, who are proven uranium mine builders and operators, the Company is advancing its growth strategy at a time when the need for nuclear energy is becoming the only viable option in the mid-to-long term to provide baseload power supply and achieve zero emission targets.
Importantly, Deep Yellow is on track to becoming a reliable and long-term uranium producer, able to provide production optionality, security of supply and geographic diversity.
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