Emu NL to raise ~AU$867,000 via Placement

Emu NL (ASX: EMU) announced that it has agreed to place approx. 137 million fully paid ordinary shares to sophisticated and professional investors to raise ~AU$867,000 after costs.

The Company confirmed that applicants of the new shares issued by the Company will be entitled to one free option. These free options will be issued conditional on shareholder approval which will be sought at the 2022 AGM, and will be exercisable at 1 cent each, on or before the date, which is two years from the date the placement is closed.

The net funds raised will support the Company with continued exploration activities, related drilling at EMU’s exploration projects, the assessment, and if applicable, the acquisition of further projects, and funding its ongoing working capital expenses.

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