Marmota receive commitments to raise AU$2.5 million via placement

Marmota Limited (ASX: MEU) has received commitments from professional and sophisticated investors to raise AU$2.5 million via an equity placement. The placement comprised the issue of approx. 47,169,812 shares at an issue price of AU 5.3 cents per new share, with one attaching unlisted option for every two new shares subscribed for and exercisable at 10 cents with a two-year expiry.       

The fund raised via the placement will be used to:

• Transition Aurora Tank gold discovery to production, mining Lease application, exploration drilling, along with new Jumbuck acquisition
• Grow the Junction Dam uranium JORC resource
•  Fund the working capital and cost of offer.

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