17th Aug 2022 15:38
Future Metals NL - Perth-based platinum exploration company - Receives firm commitments to subscribe for 40.0 million new shares in the company at 12.5 Australian cents each, in order to raise AUD5.0 million, which will go towards the exploration program at Panton, following up on the recent review which highlights the potential for a nickel, copper and platinum sulphide.
Proceeds will also go towards progressing a scoping study based on the existing platinum and nickel resources.
Euroz Hartleys Ltd and CPS Capital Group Pty Ltd acted as joint lead managers.
"We appreciate the continued support from existing sophisticated and institutional investors and welcome several new investors to the register. We are pleased to announce a share purchase plan which will enable our valued retail shareholder base the opportunity to participate in the fundraising on the same price and terms as the placement," says Managing Director Jardee Kininmonth.
Current stock price: 6.94 pence, up 6.8%
12-month change: down 43%
By Dayo Laniyan; [email protected]
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