Widgie Nickel Limited (ASX: WIN) has successfully raised AU$12 million through a placement of shares priced at AU$0.26 per share. The placement garnered significant demand, exceeding the targeted funds. A subsidiary of Ascend Global Investment Fund SPC (AGIF SPC), called Virtue Investments Corporation (VIC), participated in the placement by investing AU$7.66 million. As a result, VIC will become a 9.9% shareholder in Widgie Nickel Limited.
The funds raised will primarily be allocated towards financing exploration and evaluation expenses, as well as working capital requirements. The primary focus of these funds will be the Mt Edwards Project, which encompasses ongoing project development and exploration activities. Overall, Widgie Nickel Limited's successful placement and the involvement of VIC indicate investor confidence in the company's prospects. The additional capital injection will enable the company to further its exploration efforts and enhance its operational capabilities at the Mt Edwards Project.
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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.
