NickelSearch Ltd has completed an AU$2.1 million entitlement offer

NickelSearch Ltd (ASX: NIS) has secured AU$ AU$2.1 million through a Non-Renounceable Entitlement Offer. Of this, AU$802,656.73 was contributed by eligible shareholders, with the remaining amount covered by Discovery Capital Partners as the underwriter. Shareholders were offered two new ordinary shares for every three shares held at AU$0.015 per share and one free unquoted option for every two new shares, exercisable at AU$0.03 by 30 June 2027. In total, 142,361,632 shares and 71,180,816 options were issued.

The raised capital will be used to advance exploration, particularly at the newly acquired Mt Isa North Copper-Uranium Project and Carlingup. NickelSearch is also preparing for lithium drilling at the Quarry North prospect in Carlingup, scheduled for early 2025, pending necessary approvals.    

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