Xantippe Resources Limited (ASX: XTC) announced that it had received binding commitments from institutional and sophisticated investors to raise approx. AU$12.0 million via placement. The placement includes the issue of approx. 2.0 billion fully paid ordinary shares at an issue price of 0.6 cents per new share. The issue price denotes a 6.25% discount to the 5-day volume-weighted average price and an 11.76% discount to the 15-day VWAP.
In conjunction with the placement, the company also announced a share purchase plan, in which Eligible Shareholders will be offered the opportunity to apply for up to AU$30,000 of New Shares without incurring brokerage or other transaction costs to potentially raise AU$8.0 million. Proceeds from both placement and share purchase plan will be used to increase the exploration of the company’s lithium brine tenements in Argentina and assess its tenements at Southern Cross for the presence of lithium ore.
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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.
