Capital Raise Update - Placement Of Shortfall

SensOre (ASX: S3N or the Company) aims to become the top performing global minerals targeting company through deployment of big data, artificial intelligence/machine learning technologies and geoscience expertise.

Placement of Shortfall

SensOre is pleased to announce that $0.4m of the SPP shortfall has been placed with an exploration services provider by way of a credit note on the same terms as the SPP.

Richard Taylor, CEO SensOre said: “The shortfall placement allows us to utilise government EIS funds and meet joint-venture commitments on some of our exciting AI targets.”

SensOre was successful in receiving WA government Exploration Incentive Scheme (EIS) funding in April 2023 for the Auralia nickel project and the Moonera copper-gold project. The Auralia project is a joint venture with Chalice Mining (ASX:CHN) with SensOre earning up to a 70% interest.

The SPP raised $548,000 and delivered a shortfall of $452,000 as announced on 13 June 2023. Under the terms of the SPP offer, the subscription price was $0.25 per share, being the same price as the share placement which was also announced on 11 May 2023. The offer also included the issue of one option for every two shares at an exercise price of $0.375 and expiry of 3 years.

This announcement was approved and authorised for release by the CEO.

Click here for the full ASX Release

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