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Wolf Minerals Limited (ASX:WLF,AIM:WLFE) announced the closing of its previously announced financing of $182.7 million.
As quoted in the press release:
A total of 608,938,956 shares have been issued for the Fundraise and SPP, for proceeds of $182.7 million.
In addition to the Fundraise and SPP, today the Company has placed a further 742,000 ordinary shares at the same issue price as the Fundraise and SPP, being $0.30 (16.3p) per share (“Additional Shares”) with certain existing shareholders and employees, using its 15% annual placement capacity granted under ASX Listing Rule 7.1. The additional funds raised will be used to support the Company’s ongoing working capital requirements.
Wolf Minerals Managing Director, Russell Clark, said:
We are very pleased with the investor response and particularly so with the fact that the Company now has the funding needed to construct the project and bring it into production. The Board would like to thank all those shareholders that participated in the Fundraise and SPP. We look forward to their continuing support. Activity on the site is progressing well with site preparation almost complete and the first concrete pour successfully undertaken. With the funding now secured we will concentrate our efforts on bringing the project in on time and on budget.
Click here to read the Wolf Minerals Limited (ASX:WLF,AIM:WLFE) press release
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