- WA-based explorer Athena Resources (AHN) is raising up to $575,000 through a placement
- The company is issuing 57.5 million shares at one cent each to the placement’s lead manager, Peak Asset Management and its clients
- Each share comes with one free-attaching option that may be exercised at 1.8 cents each within three years
- Athena plans to use the money to continue activities at the Byro project in WA
- AHN is currently in a trading halt which it expects will be lifted by October 13 with shares last trading at 1.1 cents on Friday, October 7
Athena Resources (AHN) is raising up to $575,000 through a placement.
The Western Australia-based explorer entered a trading halt this morning as it flagged its intention to raise some fresh capital.
Athena soon revealed details about the raise which will result in the issue of 57.5 million shares at one cent each to the Lead Manager, Peak Asset Management and its clients.
Each share comes with one free-attaching option that may be exercised at 1.8 cents each within three years.
The company will also offer up five million new options to Peak Asset Management.
Athena intends to use the money it raises to continue activities at the Byro project in Western Australia. The funds will also support working capital and costs of the offer.
The company expects to complete the placement and come out of the trading halt by Thursday, October 13.
AHN shares last traded at 1.1 cents on Friday, October 7.