Wildcat Resources Limited
3
7
Why has Wildcat Resources raised $100M in a share placement?
Wildcat Resources Limited (ASX: WC8) has successfully secured firm commitments from institutional and sophisticated investors in a share placement, raising $100M. This capital injection will support the company's plans for exploration, development studies, and business growth at its Tabba Tabba Lithium Project.
Who participated in the share placement and what does it mean for Wildcat?
The share placement received strong interest from leading international and domestic institutions, as well as existing supportive shareholders. According to Executive Director Matthew Banks, the significant demand for the placement demonstrates confidence in Wildcat's prospects. The raised funds will provide the company with a robust balance sheet and enable the acceleration of discovery drilling and development studies at the Tabba Tabba Lithium Project.
What will the funds from the share placement be used for?
Wildcat has outlined several key areas where the raised capital will be allocated:
Exploration, drilling, and resource evaluation at the Tabba Tabba Lithium Project in Western Australia.
Permitting and project development studies, including mining, baseline, and heritage assessments, at the Tabba Tabba Lithium Project.
Story Continues.. after this ad because we need some dollarydoos
Continued exploration activities at the Bolt Cutter Lithium Project in Western Australia, the Mt Adrah Gold Project in New South Wales, and other exploration projects.
General working capital, covering the costs of the share placement, as well as corporate expenses.
When and how will the placement shares be issued?
The Company plans to issue 131,578,948 placement shares, utilizing its 15% placement capacity under ASX Listing Rule 7. 1. This issuance is expected to occur on or around November 17, 2023. The shares will be offered at a price of $0. 76 per share, representing an 8. 6% discount to the 10-day Volume-Weighted Average Price (VWAP) at the Company's last closing share price.
Who were the joint lead managers for the share placement?
The joint lead managers for the share placement were Canaccord Genuity (Australia) and Euroz Hartleys Limited, playing pivotal roles in the capital-raising process.
In conclusion, Wildcat Resources has successfully raised $100M through a share placement, attracting strong interest from institutional investors. The capital raised will support the company's ambitious plans for exploration, development studies, and business growth at the Tabba Tabba Lithium Project. The funds will also be utilized for continued exploration activities and general corporate purposes. The issuance of the placement shares will take place in mid-November, with Canaccord Genuity (Australia) and Euroz Hartleys Limited serving as the joint lead managers.
Promote your business on our growing investor platform: Advertise With Us
Trending