Siren Gold Raises AU$2M for Exploration Expansion

Siren Gold Limited (ASX: SNG) has announced a successful capital raising effort of approximately AU$2.0 million, with a commitment of AU$120,000 from directors and management (pending shareholder approval). These funds will be directed towards exploration activities at Auld Creek, Sams Creek, Lyell, Cumberland, and Big River South. The initial exploration will kick off with drilling at the Auld Creek tenement.The company has secured commitments from various investors, including institutional, professional, and sophisticated investors.

The Placement consists of 26,689,998 fully paid ordinary shares at an issue price of AU$0.075 per share, along with one attaching option for every two placement shares issued. These options will be exercisable at AU$0.12 each and will expire two years from the date of issue. The allocated funds will support drilling, mapping, and soil sampling activities at multiple sites, alongside covering working capital and placement costs. The issuance of placement shares will utilize the company's existing Listing Rule 7.1 and 7.1A capacity, while shareholder approval will be sought for related parties' participation and the issuance of placement options.

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