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- Marvel Gold (MVL) welcomes a new cornerstone investor through its latest $4.2 million capital raise
- Under the capital raise, the company issued 70 million shares offered at 6 cents each
- In the placement, German company Delphi grabbed an 11 per cent stake in Marvel
- Placement funds will be used to meet costs for Marvel’s gold exploration programs in Mali and the proposed spin-out of the Chilalo Graphite Project
- Marvel closed flat with shares at 5.5 cents apiece on August 10
Marvel Gold (MVL) has welcomed a new cornerstone investor through its latest capital raise.
The company completed its $4.2 million capital raise, in which 70 million shares were offered at 6 cents each.
In the placement, Marvel welcomed a new cornerstone investor, Delphi Unternehmensberatung, a German business management consultant.
Delphi subscribed for around 58 million shares, giving it an 11 per cent stake in Marvel.
Funds from the placement will be used to meet costs for Marvel’s gold exploration programs in Mali and the proposed spin-out of the Chilalo Graphite Project.
The company is in the final stages of its Chilalo Graphite Project spin-out.
Managing Director Phil Hoskins is pleased to welcome Delphi as an investor in Marvel.
“The placement price demonstrates the deep value potential in the company’s gold and graphite assets, with the value of the company’s graphite assets soon
to be unlocked by our proposed spin-off of the Chilalo Graphite Project which has the potential to be highly value-accretive,” he said.
Marvel closed flat with shares at 5.5 cents apiece on August 10.
