Nelson Resources Ltd (ASX:NES) has received firm commitments from professional and sophisticated investors to raise $300,000 through a placement.
The placement will comprise 7.22 million shares at an issue price of 4.15 cents together with one free attaching option for every two shares subscribed for totalling 3.61 million options.
These options are unlisted, exercisable into fully paid shares at a price of 8 cents and will expire 24 months from the date of their issue.
Funds to advance WA exploration
The funds raised from the placement will be used towards exploration activities at the company’s existing Western Australian projects, evaluation of new projects and/or joint ventures and working capital.
The company will pay a 6% brokerage fee to introducing AFSL holders participating in the placement of shares.
Allotment of these shares is anticipated to occur on or about February 14, 2020, under Nelson’s existing placemenRead More – Source
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