Additional Placement Raises Further $141,010
Perth, May 26, 2016 AEST (ABN Newswire) - Enterprise Uranium Limited (“Enterprise” or “the Company”)(
ASX:ENU) is pleased to advise that it has successfully raised a further $141,010 via a share placement of 2,390,006 fully paid ordinary shares at 5.9 cents per share (“the Placement”) to professional and sophisticated investors as defined under Section 708 of the Corporations Act (2001). The issue price of 5.9 cents per share represents a 22% discount to the 15 day traded VWAP.
The funds, which are additional to the $1 million placement announced on 24 May 2016, will be used to initiate gold exploration at the Company’s Sandstone Gold Project in Western Australia and for working capital.
The placement was undertaken using the Company’s 15% and 10% placement capacity in accordance with ASX Listing Rules 7.1 and 7.1.A. The Placement shares will rank pari passu with the Company’s existing fully paid ordinary shares.
Settlement is expected to occur on or around 30 May 2016, with issue and quotation of the Placement shares on the ASX anticipated within one (1) business day of settlement. Following issue of the Placement shares, Enterprise will have 96,695,810 ordinary shares on issue.
About Alto Metals Ltd
Alto Metals Limited (ASX:AME) is a Western Australian based company and is focused on gold and uranium exploration in Australia. The Company's primary objective is to create shareholder wealth through discovery and development of a plus 1 million ounce gold deposit and ISR style uranium deposits.
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