Artemis Resources Limited (ASX: ARV) has secured firm commitments to raise AU$4 million through a heavily oversubscribed capital raise at AU$0.007 per share, representing a 27.6% discount to the 15-day VWAP. The funds, sourced from institutional and sophisticated investors, will primarily support drilling and exploration at the Karratha Gold Project starting in early 2025.
The raise will occur in two tranches: Tranche 1 involves issuing 287 million shares to raise AU$2.009 million under Listing Rule 7.1, while Tranche 2 will issue 284.43 million shares (AU$1.991 million) subject to shareholder approval. Additionally, 67.32 million broker options will be issued with an exercise price of AU$0.015, expiring in two years. The funds will focus on high-priority targets such as Carlow, Marillion, and Lulu Creek, along with further exploration across multiple prospects. Remaining proceeds will be allocated to regulatory compliance and general working capital. CPS Capital and Zeus Capital led the raise.
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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.