Pantoro Limited (ASX: PNR) reported the successful completion of an institutional placement, raising AU$30 million (pre-expenses) through the issuance of new fully paid ordinary shares (New Shares) at AU$0.06 per New Share. The proceeds, combined with existing funds, will bolster working capital for the Norseman Project (PNR 100%), cover unforeseen merger transaction costs, and facilitate exploration and offer expenses.
The placement involves 500 million New Shares, secured at a price of AU$0.06 each, representing a 14.3% discount to the closing price of AU$0.07 on August 4, 2023, and a 20.5% discount to the 5-day VWAP of AU$0.076 on the same date. The Placement is within the Company's capacity under ASX Listing Rule 7.1 and is slated for settlement on August 14, 2023, with the New Shares anticipated to be issued around August 15, 2023. The newly issued shares will hold equal standing with Pantoro's existing fully paid ordinary shares.
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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.
