Australia  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Minotaur Exploration obtains commitments to raise $1.25 million

Proactive Investors Thursday, 16 May 2019
Minotaur Exploration Ltd (ASX:MEP) has obtained binding commitments to complete an oversubscribed placement to sophisticated and institutional investors to raise $1.25 million. Capital raised will fund exploration work across the company’s portfolio of base metals projects. Completion of the unconditional placement will result in the issue of 31.25 million shares at 4 cents per share. Shares last traded at 4.7 cents. “The success of the placement is a great endorsement” Minotaur managing director Andrew Woskett said: “The success of the placement is a great endorsement of Minotaur’s exploration expertise and strong reputation as an effective project generator. “We are especially pleased to have the continued support of our largest shareholder, an affiliate of the Sprott Group, as a cornerstone investor to the placement and welcome new shareholders to the company. “Minotaur’s new joint ventures with OZ Minerals Ltd (ASX:OZL) over the Cloncurry region insulate against shareholder dilution across these projects and this raise is deliberately scale-limited to minimise dilution while funding other projects.”
0
shares
ShareTweetSavePostSend
 

Recent related news from verified sources

Eon NRG to discuss drilling first well in Powder River Basin at Proactive’s CEO Sessions

Eon NRG Ltd (ASX:E2E) continues to expand its production, oil and gas reserves, cash flow and improve its profitability by focusing on oil and gas exploration...
Proactive Investors

Artemis Resources to retire all debt after securing $5.9 million from capital raise

Artemis Resources Ltd (ASX:ARV) (FRA:ATY) has received firm commitments from international and Australian institutions and sophisticated investors to raise $5.9...
Proactive Investors

You Might Like

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.