Impact Minerals Limited (ASX:IPT) (Company) is pleased to announce that it has received firm commitments to raise $2,000,000 (before costs) via a placement of 166,666,667 shares (Shares) at 1.2 cents per share (Placement).
Highlights
  • $2 million raised via placement to professional and sophisticated investors including a number of domestic and overseas funds.
  • Sydney-based Viriathus Capital was Lead Manager to the placement.
  • Monies to be used to fund follow up work on the Arkun-Jumbo battery and strategic metals projects as well as any follow up drilling for Hopetoun and Doonia where assays are awaited.

Impact Minerals Managing Director, Dr Mike Jones said:

We are pleased to now have the funds to continue to explore our key battery and strategic projects in Western Australia. We have significant on ground follow up work to do at Arkun and Jumbo where our reconnaissance soil geochemistry and geophysical targeting has delivered a large number of areas of interest. We will also be able to progress early stage work on our other joint ventures and also undertake follow up drilling at Hopetoun and possibly Doonia once assays are received”.

Shareholders both old and new can look forward to very strong news flow over the coming months”.

The Shares are to be issued to sophisticated and professional investors and pursuant to personal offers under section 708 of the Corporations Act.

Click here for the full ASX Release

This article includes content from Impact Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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