Alice Queen receives commitments to raise AU$1.25 million via Placement

Alice Queen Limited (ASX: AQX) announced that it had received binding commitments from unrelated professional and sophisticated investors to raise AU$1.25 million via an equity placement. The placement comprised the issue of approx. 416,666,667 fully paid ordinary shares at an issue price of AU$0.003 per new share, with one attaching option for every two new shares subscribed for and exercisable at AU$0.008 with a three-year expiry.

The proceeds of the placement will be used to:

• Start the exploration program in Fiji.
• Accelerate the exploration in NSW
• Working capital.
• Advance discussions for joint venture opportunities on NSW projects to fast-track further drilling

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