Victory Metals Limited (ASX:VTM) Announces Share and Option Placement
Share and Option Placement
Victory Metals Limited (ASX:VTM) has announced a placement offering up to 5,136,986 new shares at $0.73 each and up to 1,800,000 new options with an exercise price of $1.30. The placement aims to raise approximately $3.75 million before costs from sophisticated and professional investors.
Purpose of Funding
The proceeds from the share offering will be used to accelerate the Pre-Feasibility Study and the development of Victory’s flagship North Stanmore Project, Australia’s largest clay-hosted Heavy Rare Earth deposit located in Cue, Western Australia. Additional funds will support general working capital needs.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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