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Artemis Resources Ltd (ATY.F) has announced a successful capital raise through a share placement, with firm commitments to generate approximately AUD2 million. The company’s shares surged 22% to 1.52 pence in London following the news.
The gold and copper exploration firm plans to issue 112.8 million shares at AUD0.018 each across two tranches. Additionally, investors will receive 56.4 million free attaching options, at a rate of one option per two new shares. This strategic move was met with strong support from institutional and significant investors, indicating a ‘significantly oversubscribed’ interest.
The raised funds are earmarked for advancing the diamond drilling at the 49% owned Osborne lithium joint venture and for testing programmes at the Lulu Creek and Greater Carlow gold projects. The capital will also bolster general working capital and support other corporate activities.
Company Website: https://www.artemisresources.com.au
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