Segue Resources Limited (Segue or the Company) is pleased to announce it has completed a private placement to raise $825,000 through the issue of 27.5 million ordinary shares at an issue price of 3.0¢ per share (Placement) together with a 1 for 2 option (exercisable at 7.0¢, expiry 31 December 2019). The Placement was made utilising the Company’s existing capacity under ASX Listing Rules 7.1 and 7.1A.
As quoted in the press release:
Drilling Programmes at Barlee Gold and Gascoyne Lithium Projects.The proceeds from the Placement will be used to fund maiden drilling programmes at the Barlee Gold and Gascoyne Lithium Projects. As previously announced (see announcement on 22 May 2017), Segue will commence a 4,000m aircore drilling programme in July 2017 to test drill gold anomalies at the T1 and T2 targets at the Barlee Gold Project.