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Uvre Limited (Uvre or Company) (ASX: UVA) is pleased to announce the successful completion of its public and priority offer, raising $6,000,000 via the issue of 30,000,000 Ordinary shares at $0.20 per share (Offer). The Company has 40,900,001 shares on issue for a market capitalisation (at $0.20) of $8.18M and an enterprise value (EV) of $2.18M1 .
- Uranium, vanadium and critical minerals exploration company Uvre Limited commenced trading at 11:00am AEST today under code ASX: UVA
- Uvre successfully raised $6 million in an oversubscribed IPO
- Tight capital structure with EV of $2.18M1
- East Canyon Project (100% ownership) strategically located in wellknown uranium and vanadium district in Utah, USA.
Proceeds from the Offer will be used to further explore the East Canyon Project in south-eastern Utah, USA which is prospective for both uranium and vanadium, two minerals anticipated to play a key role in the generation and storage of low-carbon energy.
Permitting for an initial drill program of up to 50 holes at East Canyon has been received and planning for the first phase of drilling is currently underway.
As disclosed in the IPO Prospectus, the Company may also assess other value accretive and/or strategic acquisition opportunities, if such opportunities arise, with a focus on “new world minerals”, being those minerals that will be pivotal in technologies and developments associated with the de-carbonisation and electrification of the global economy and the evolution of the electric vehicle and battery markets.
The Company commenced trading today on the Australian Securities Exchange (ASX) at 11:00am AEST under the ticker UVA.
JP Equity Partners were Lead Manager to the IPO.
Managing Director, Pete Woods commented “We are very pleased by the strong response from both retail and institutional investors to the capital raising and the company’s strategy to explore and pursue critical minerals. I would like to welcome the new shareholders to the Company and thank Lead Manager JP Equity Partners, and also both Grange Consulting and Steinepreis Paganin for their assistance with the successful listing of Uvre”.
Authorised for ASX lodgement by the Managing Director.
+61 8 9322 7600
+61 8 9322 7600