Capital Raising Update
Sydney, June 5, 2015 AEST (ABN Newswire) - Strategic Elements Limited (
ASX:SOR) is pleased to report that all shares from the recent share plan were allotted to applicants' nominated accounts yesterday. The final amount of funds raised was $1,242,000.
Funding from the capital raising has been allocated to 100% owned Australian Advanced Materials for the nanocube memory technology recently announced to the market. Significant progress can now be made at a fast pace with key developments intended in the near term.
Funding will also be allocated to 100% owned Maria Resources Pty Ltd. Additional projects are being finalized in collaboration with Dr Franco Pirajno and the Company will update the market shortly.
Funds will also be allocated to 100% owned Strategic Materials Pty Ltd to assist with drilling approvals and permits required to test the high grade Pioneer Shoot under the historic high grade Aorangi Gold Mine in New Zealand.
The Directors are highly appreciative of the tremendous support and feedback it has received from shareholders.
About Strategic Elements Ltd
Strategic Elements (ASX:SOR) shares are listed on the Australian Stock Exchange under the code “SOR”. The Company is registered under the Pooled Development Program run by the Australian Federal Government to encourage investment into SME’s. To assist Pooled Development Fund’s to invest and raise capital, the Federal Government enables most shareholders in a Pooled Development Fund to make capital gains and receive dividends tax-free.
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