Estrella Resources Ltd (ASX: ESR) has successfully secured commitments from professional and sophisticated investors, raising AU$1,650,000 through a placement of 275,000,000 shares at AU$0.006 per share. Each Placement Share subscribed for and issued includes a free attaching listed option exercisable at AU$0.018, valid for three years from the issue date, totalling 275,000,000 Placement Options.
This funding initiative, led by leading Melbourne boutique Peak Asset Management, comes after an unsolicited approach from a global mining group. The funds will be used to explore Carr Boyd's extensive lithium potential. The issuance of Placement Shares, quoted around October 26, 2023, does not require shareholder approval and will rank equally with existing fully paid ordinary shares. Estrella Resources intends to utilize the raised capital primarily for investigating lithium potential at Carr Boyd Project, sustaining activities at Carr Boyd Ni/Cu Project, and general working capital purposes.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
