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- Metal Hawk (MHK) receives firm commitments to raise $1.05 million via a share placement
- The funds will be raised through the issue of 6.57 million new fully-paid ordinary shares to new and existing sophisticated investors at a price of 16 cents
- Subject to shareholder approval, an additional 300,000 new shares will be issued to Managing Director Well Belbin and Executive Director David Pennock
- Metal Hawk will use the money to fund exploration activities at the Berehaven Project in Western Australia
- MHK ends the day 2.56 per cent in the red to close at 19 cents
Metal Hawk (MHK) has received firm commitments to raise $1.05 million via a share placement.
The funds will be raised through the issue of 6.57 million new fully-paid ordinary shares to new and existing sophisticated investors at a price of 16 cents.
This price represents a 0.8 per cent discount to Metal Hawk’s 15-day volume weighted average price and a 17.9 per cent discount to its closing price of 19.5 cents on September 23.
Subject to shareholder approval, an additional 300,000 new shares will be issued to Managing Director Well Belbin and Executive Director David Pennock.
Metal Hawk will use the money to fund exploration activities at the Berehaven Project which lies 20 kilometres southeast of Kalgoorlie in Western Australia.
In mid-August, Metal Hawk announced it had begun a fresh reverse circulation drilling program at Berehaven to test nickel sulphide targets identified via ground moving-loop electromagnetic surveys.
“We are very pleased with the strong level of support from shareholders and look forward to continuing our search for new nickel sulphide discoveries at Berehaven,” Mr Belbin commented.
MHK has ended the day 2.56 per cent in the red to close at 19 cents.
