- OzAurum Resources (OZM) is looking to raise up to $12 million under its initial public offering (IPO) to list on the ASX on February 5
- The company is looking to raise a minimum of $10 million through the issue of 40 million shares at 25 cents
- Oversubscriptions of up to a further eight million shares to raise an additional $2 million may be accepted at the discretion of the directors
- Incorporated in August 2020, OzAurum’s focus is to pursue gold exploration opportunities and ultimately list on the ASX
- Its two gold projects, Mulgabbie and Patricia, lie in Western Australia and cover an area of roughly 70.6 square kilometres
- OzAurum will list on the ASX in the upcoming weeks
OzAurum Resources (OZM) is looking to raise up to $12 million under its initial public offering (IPO) to list on the ASX on February 5.
The company is looking to raise a minimum of $10 million through the issue of 40 million shares at 25 cents.
Oversubscriptions of up to a further eight million shares to raise an additional $2 million may be accepted at the discretion of the directors.
Participants must subscribe for a minimum of 8000 shares for $2000.
Once listed, OzAurum is expected to have an unaudited market cap between $26.63 million to $28.62 million.
OZM will use the funds to undertake exploration and evaluation of its projects, implement a growth strategy and seek growth opportunities.
Incorporated in August 2020, OzAurum’s focus is pursuing gold exploration opportunities and ultimately list on the ASX.
In October, the company converted from a proprietary company to an unlisted public company.
Additionally, its wholly-owned subsidiary, OzAurum Mines, was incorporated in October.
Its two gold projects, Mulgabbie and Patricia, lie in Western Australia and cover roughly 70.6 square kilometres.
The board is led by Jeffrey Williams as Chairman and Non-Executive Director, and Andrew Pumphrey as CEO and Managing Director.
OzAurum will list on the ASX in the upcoming weeks.