Riedel Resources Limited (ASX: RIE) announced that it had received firm commitments from sophisticated and professional investors to raise AU$1.5 million via placement. The placement comprises the issue of approx. 300 million fully paid ordinary shares at AU$0.005 per new share. The issue price indicates a 14.8% discount to Riedel’s 15-day Volume Weighted Average Price.
Proceeds from the placement will be used to fund diamond drilling at the Kingman Gold Project in Arizona, USA, comprising sampling/assaying of the diamond drill core, preliminary baseline environmental work, and general working capital requirements.
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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.
