- Poseidon Nickel (POS) opens share purchase plan (SPP) to raise $3 million as part of a $9 million capital raise to restart the Black Swan project in Kalgoorlie
- The company received firm commitments on December 1 to raise $6 million through a private placement, and launched the SPP for eligible shareholders wishing to participate
- Shareholders will be able to subscribe for up to $30,000 worth of shares at 3.5 cents, with the SPP closing on December 19
- Shares will be issued on December 23
- POS shares are down 2.63 per cent, trading at 3.7 cents at market close
Poseidon Nickel (POS) has opened a share purchase plan (SPP) to raise $3 million, as part of a $9 million capital raise to restart the Black Swan project in Kalgoorlie.
The company announced on December 1st that it had received firm commitments to raise $6 million through a private placement, and would also be launching the SPP for eligible shareholders wishing to participate.
Shareholders will be able to subscribe for up to $30,000 worth of shares under the SPP at 3.5 cents each – the same price as the placement – representing an 18.2 per cent discount to Poseidon’s five day volume weighted average price of the last five trading days.
Shares under the placement will be issued on December 8, while the SPP is set to close on December 19, and the results announced and shares issued on December 23.
POS shares were down 2.63 per cent, trading at 3.7 cents at market close.