Alice Queen (ASX:AQX) raises $1.3 million for exploration drilling at Horn Island

• Alice Queen (AQX) has raised $1.3 million through a placement.
• The company will issue approximately 162.5 million shares at a price of $0.0008 per share
• The funds will be used for working capital and for exploration drilling at Horn Island in Queensland
• The new shares are not subject to shareholder approval and will be issued under the company’s placement capacity
• Shares finished the day flat at 1 cent

Mineral exploration company, Alice Queen (AQX) has raised $1.3 million through a placement.

The company has received binding commitments to issue approximately 162.5 million shares at a price of $0.008 per share.

The funds will be used for working capital and for exploration drilling at Horn Island in Queensland.

The new shares are not subject to shareholder approval and will be issued under the company’s placement capacity.

Managing Director Andrew Buxton said he is pleased with the capital raising.

“We are very pleased with this result and take the opportunity to thank all the new and existing shareholders for their support and welcome them to the Alice Queen Register,” he said.

“With the current IP survey at Horn Island nearing completion, we are looking
forward to getting the drill bit spinning in February.”

The new shares are expected to be issued in the coming days.

Shares finished the day flat at 1 cent.