AuStar Gold Limited (ASX: AUL) is excited to announce their successful share placement and commencement of an Entitlement Offer to raise a combined total of approximately $3.2M.
The placement will raise approximately $1.96M via the issue of 6,533,333 new fully paid ordinary shares (New Shares) at $0.30 per New Share in the Company to institutional, sophisticated and professional investors. AUL is also pleased to announce a pro rata non-renounceable Entitlement Offer, on a 1:10 basis, which is expected to raise up to approximately $1.05M (before costs).
Read the full announcement here.
Highlights:
-
Binding commitments from institutional, sophisticated and professional investors of $1.96m received, for the issue of 6,533,333 shares at $0.30 per Share, together with a 1 for 3 free attaching option exercisable at $0.60 on or before 31 December 2021;
-
The Placement was heavily oversubscribed with bids of ~A$6M received;
- AuStar welcomes Crescat Capital LLC as a new shareholder and notes the support of instiutional investors Equity Management Associates LLC and WH Ireland PLC;
- A pro rata non-renounceable Entitlement Offer to be offered to shareholders on a 1 for 10 basis, on the same terms as the Placement, including the 1 for 3 free attaching options
- AuStar Gold to also make a Bonus Issue of options, with the same terms as the Placement and Entitlement options, on a 1 for 10 basis, to shareholders.
To keep up to date with their news and progress, and for more information about gold investment as a whole, subscribe to the AuStar Gold Chairman's List.
