- 3D Resources (DDD) has received firm commitments to undertake a $1.3 million share placement
- All up, 260 million fully-paid ordinary shares will be issued to sophisticated and professional investors at 0.5 cents
- This represents a 4 per cent premium to the five-day volume-weighted average price of .48 cents
- Shareholders will also receive one free attaching option for every two shares issued, exercisable at 0.42 cents with expiry on May 31, 2022
- Once received, 3D Resources will use the funds to extend its exploration and drilling activities at its Adelong Goldfield Projects in NSW
- Shares in 3D Resources are trading in the grey at 0.5 cents
3D Resources (DDD) has received firm commitments to undertake a $1.3 million share placement.
The company entered a trading halt on May 27 but did not disclose how much it intended to raise or what it would use it for.
All up, 260 million fully-paid ordinary shares will be issued to sophisticated and professional investors at 0.5 cents.
This price represents a 4 per cent premium to the five-day volume-weighted average price of .48 cents and a 6 per cent premium to the 30-day volume-weighted average price of .47 cents.
Shareholders will also receive one free attaching option for every two shares issued, exercisable at 0.42 cents with expiry on May 31, 2022.
Once received, 3D Resources will use the funds to extend its exploration and drilling activities at its Adelong Goldfield Projects in NSW.
Preparations are already underway for drilling programs at the Donkey Hill, Sawpit, Fletchers, Currajong, Lady Clare, Gibraltar and Caledonian projects.
“The additional funding will allow us to continue with our exploration program across the Adelong Goldfield in Southern NSW. We look forward to the drilling commencing in the coming weeks and providing results to shareholders once received,” Chairman Ian Hastings commented.
Shares in 3D Resources are trading in the grey at 0.5 cents at 11:40 am AEST.