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Antipa raises exploration funds

21st May 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed junior Antipa Minerals will raise up to A$7.5-million through a share placement and entitlement offer to fund exploration at its Paterson projects, in Western Australia.

The company will place some 270-million shares to new and existing shareholders in two tranches, to raise an initial A$3.3-million, with the placement priced at 1.2c a share.

The first tranche will consist of some 263-million shares, which will be issued under the company’s existing capacity, with the second tranche holding the balance of the shares, and subject to shareholder approval.

Antipa will raise a further A$4.3-million through a partially underwritten, non-renounceable one-for-four entitlement offer to existing shareholders, and a shortfall placement.

The junior told shareholders that the funds will be used to conduct further exploration on its projects in the Paterson region, as well as for general working capital.

Edited by Creamer Media Reporter

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