Australia

Venus Metals signs underwriting deal with Ord Minnett for listed options worth $5.7 million

Venus Metals Corporation Ltd (ASX:VMC) has entered into an underwriting agreement with Ord Minnett pursuant to which Ord Minnett will underwrite the companys listed options up to a value of $5.7 million.

Venus has about 57 million listed options on issue, exercisable at 20 cents on or before November 30, 2019.

Support from two on Forbes richest list

Ord Minnett has appointed Christopher Wallin (an existing substantial shareholder) and Bruce Mathieson to act as sub‐underwriters.

Interestingly, Wallin is 41st and Mathieson is 43rd on Forbes 2019 Australia's 50 Richest list.

Wallin was the Queensland government's chief coal geologist before starting his company, QCoal, in 1989.

Mathieson owns 25% of the country's biggest hotel-and-pub operator, Australian Leisure & Hospitality; the rest is held by local supermarket giant Woolworth.

Funding for exploration

Venus is anticipated to announce the expected shortfall associated with any unexercised listed opRead More – Source