First Au Limited received commitments to raise AU$900,000 via placement

First Au Limited (ASX: FAU) announced that it has received firm commitments from sophisticated, professional, and other exempt investors to raise AU$900,000 before costs. The placement comprised the issue of approx. 112,500,000 shares at an issue price of AU$0.008 per new share, represent a 23% discount to the 15 trading day VWAP prior to the date of this announcement.

Fund raised via the share placement will be used to:

• Fund the exploration works at Haunted Stream at the Victoria project, comprising an underground drill program
• Accelerating Gimlet Gold project, Kalgoorlie, Western Australia
• Structural mapping across Victorian tenements
• Meeting working capital requirements, including costs of the Placement.
• LIDAR survey at additional Victorian tenements.

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