Strickland Metals Limited (ASX: STK) announced that it is raising equity through the placement of 125,000,000 fully paid ordinary shares in the company to institutional and sophisticated investors at an issue price of AU$0.032 per share in order to raise approximately AU$4 million.
The offer price of AU$0.032 denotes a 13.5% discount to the last traded price of AU$0.037 and an 18.4% discount to the 15-day VWAP of AU$0.0392. The funds raised from the placement will be used in the company's flagship Yandal Project and other regional projects' upcoming drilling and resource expansion phases.
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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.
