Siren Gold Limited (ASX: SNG) has received firm commitments from institutional, professional and sophisticated investors to raise A$4.4 million.
Under the Placement, SNG will issue 21,000,000 fully paid ordinary shares (Shares) at an issue price of $0.21 per Share.
Funds raised under the Placement will be used to continue exploration at the high-grade Reefton Goldfields, specifically:
• updating the Resource estimate at Alexander River;
• completing a Maiden Resource Estimate at Big River;
• updating Resource at Sams Creek;
• undertaking drilling and other exploration at the Lyell, Auld Creek and St George Projects; and
• working capital and costs of the Placement.
Subject to shareholder approval, directors of the company, and their related parties, have committed to participate in the Placement and have subscribed for $260,000 of Shares at the same issue price.
Siren Gold is an Australian listed public company holding a 850 sq. km tenement package in the high grade Reefton Goldfields located on the South Island of New Zealand.
- Historical production from four gold projects on Siren Gold’s 100% owned tenements totals 268koz @ 25.6g/t Au (cut off grade 15g/t Au).
- Siren Gold’s Reefton tenements are completely under-explored. Modern exploration techniques have the potential to add significant additional new gold resources.
- Drill permits are in place to commence drilling at Big River and Alexander River tenements and conduct surface sampling at Reefton South.
For further information please visit: https://www.sirengold.com.au/
