WIN Metals Limited (ASX: WIN) has announced that it has received firm commitments to raise A$3.6M via a conditional share placement at an issue price of A$0.025 per share, together with one free attaching option for every two shares issued under the placement.
The company received strong support for the placement from new and existing sophisticated and professional investors, with demand in excess of total funds sought under the placement.
Managing director, and CEO, Mr Steve Norregaard, commented, “WIN’s strategic pivot is nearing a conclusion with our proposed gold acquisition widely supported by the market. We are delighted with the overwhelming support for the placement and the addition of a number of new highly credentialled investors joining the register.”
The placement price of A$0.025 per share represents a:
• 19.4% discount to the last traded price of A$0.031
• 22.9% discount to the five day VWAP of A$0.0324
• 22.7% discount to the 10 day VWAP of A$0.0323
The issue of the securities under the placement is subject to shareholder approval, and conditional upon the approval of vendor shares for the acquisition of the Butchers Creek Gold Project at an upcoming general meeting of shareholders, expected to be held in mid to late October 2024.
To find out more, please visit www.winmetals.com.au
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