Rox Resources to raise capital to support mining and feasibility study at Youanmi Gold Project

Rox Resources Limited (ASX: RXL) announced that is has received binding commitments to raise AU$4.0 million (before costs) via a placement of ~24.24 million new fully paid ordinary shares (Shares) to institutional and sophisticated investors at an issue price of $0.165 per Share (Placement), including ~AU$0.66 million from the Company's largest shareholder, Hawke's Point (RRL) L.P.

Rox also offers the opportunity to its existing eligible shareholder to subscribe for up to a maximum of AU$30,000 worth of Shares each at an issue price of AU$0.165 per Share under a share purchase plan (SPP), to raise a further AU$1 million (before costs).

The raised funds will be used to progress resource drilling, near mine exploration and feasibility studies at the Company’s flagship Youanmi Gold Project as it heads toward development.

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