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Adavale Resources (ASX:ADD) has announced it’s secured nearly $700K in funding to prod along uranium exploration in South Australia.
The company reported it had received an additional $82,000 in commitments bringing the total value of a recent raise to $632,000 – not even $0.7M.
The company cited a two tranche placement involving sophisticated investors. The funds, Adavale hopes, will allow “aggressive” exploration of uranium in SA.
All in all, the company will further entrench itself into pennystockdom with 158.5M new shares being issued.
GBA Capital acted as Lead Manager.
ADD last traded at 0.3cps.
