Jane Morgan Management
Highlights:
- A$4.0 million placement to underpin growth plans at the Youanmi Gold and Fisher East Nickel Projects
- Placement demand strongly supported by Australian institutional investors
- A total of 166.6 million new shares to be issued at $0.024, representing a 7.7% discount to last closing price
Rox Resources Limited (ASX: RXL) ("Rox" or the "Company") is
pleased to announce that it has received binding commitments from
institutional and sophisticated investors to raise gross proceeds of
A$4.0m by way of a share placement ("Placement"). Taylor Collison
acted as sole Lead Manager and Bookrunner to the Placement.
Proceeds from the Placement will enable Rox to accelerate its
exploration campaigns across both its Gold and Nickel projects and
to:
- Further define the high-grade, near-surface gold mineralisation at the Youanmi Gold Project; and
- Implement its exploration plans at the Company's 100% owned Fisher East Nickel Project and the recently announced Mt Eureka JV
A total of 166.6 million fully paid ordinary shares will be issued at a
price of $0.024, which represents a 7.7% discount to the last closing
price and a 15.8% discount to the 15-day VWAP of Rox's shares.
With this placement the Company welcomes several new institutional
investors to its share register, providing a strong endorsement for the
Company's growth strategy in both gold and nickel.
Managing Director, Mr Alex Passmore,
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