Pursuit Minerals AU$3 million placement secures funds for Rio Grande Sur

Pursuit Minerals Limited (ASX: PUR) has recently announced the successful completion of an oversubscribed placement to sophisticated investors, raising approximately AU$3 million. Inyati Capital Pty Ltd (Inyati) and CPS Capital Group Pty Ltd (CPS Capital) acted as Joint Lead Managers for the placement.

To recognize their involvement, Inyati, and CPS Capital will be awarded a cash fee equivalent to 6% of the raised amount. Furthermore, Pursuit Minerals will grant 25,000,000 options to Inyati and CPS Capital. These options can be exercised at 1.8 cents per share within three years from the issue date. As a result of this oversubscribed placement, Pursuit Minerals has secured the necessary funds to undertake significant activities, including an initial drilling campaign at the Rio Grande Sur project. This campaign is expected to lead to establishment of a maiden JORC resource.

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