Australia
Latin Resources raises $652,000 to advance Yarara Gold Project in prolific Lachlan Fold Belt
Latin Resources Limited (ASX:LRS) (FRA:XL5) has raised $652,000 in an oversubscribed placement with the funds to advance its highly prospective Yarara Gold Project in the Lachlan Fold Belt of New South Wales.
The placement to sophisticated and professional investors was oversubscribed to the tune of $102,000 with funds mainly raised from long-standing shareholders following strong interest.
LRS was also able to facilitate a sale of shares from largest shareholder, Lind Asset Management LLC, to a group of sophisticated investors, in conjunction with the placement and Lind will remain a major and supportive shareholder.
Placement details[hhmc]
The company will issue 59,272,728 shares at an issue price of $0.011 to sophisticated and professional investors.
Shares were offered at $0.011 per share, which represents a 4% premium to the companys 10-day volume-weighted average price (VWAP).
The placement shares come with a one-for-one free-attaching LRSOC listed option. This has an exerci..
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