Successful Completion of Tranche 1 Placement and Institutional Entitlement Offer

Peninsula Energy Limited (ASX: PEN) has completed Tranche 1 of its fully underwritten equity raising, securing AU$30.9 million through the institutional placement and entitlement offer. This strong response highlights confidence from both new and existing investors. Notably, Tees River Uranium Fund invested AU$7.5 million, establishing itself as a cornerstone investor, while Davidson Kempner Capital Management contributed AU$3.8 million, including an offset against existing debt.

The retail entitlement offer will open on 29 August 2025 and close on 9 September 2025, allowing eligible shareholders in Australia and New Zealand to participate on the same terms as institutional investors at AU$0.30 per share. Managing Director and CEO George Bauk emphasized that the funding marks a pivotal step in repositioning the Lance Project as a sustainable supplier of uranium to global markets. The company’s disciplined approach in laying a strong foundation for long-term success.

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