Private placement applications and commitments received to raise A$500,000 at an issue price of A$0.15 per share from professional and sophisticated investors
Placement of Shares
Perth, Jan 16, 2019 AEST (ABN Newswire) - Venus Metals Corporation (the Company) (
ASX:VMC) is pleased to advise it has received applications and commitments from professional and sophisticated investors for a private placement of 3,333,333 new ordinary fully paid shares at A$0.15 per share to raise approximately A$500,000, before costs (Placement).
Settlement of the Placement is expected to complete immediately after the funds are received and cleared. The Placement will be undertaken using the Company's existing placement capacity under Listing Rule 7.1, and accordingly, the Placement will be made without shareholder approval. When issued, Placement shares will rank equally with existing shares then on issue.
Funds raised will be used for exploration at the DeGrussa North Copper Project, Bell Chambers Gold Project and general working capital.
An Appendix 3B and cleansing notice will be lodged upon issue and allotment of the shares under the Placement.
About Venus Metals Corporation Limited
Venus Metals Corporation Limited (ASX:VMC) is a West Australian based Company with a focus on gold, base metals, vanadium and lithium exploration projects. The Company aims to increase shareholder value through targeted exploration success on its projects.
The Company's major gold project is the Youanmi Gold Mine, located 500km north-east of Perth. The Youanmi Gold Mine is now jointly owned by Venus Metals (30%) and Rox Resources Limited (70%); Indicated and Inferred Resource of the mine is in excess of 3 million ounces of gold.
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