ASX-listed Amani Gold has completed a bookbuild for a two-tranche placement to raise up to $2.55-million.
The proceeds will be used to fund ongoing exploration activities at the company’s Giro and Gada gold projects, in the Democratic Republic of Congo.
Amani is issuing 2.55-billion fully paid ordinary shares at an issue price of $0.01 apiece.
Each placement share will include 1.5 free attaching listed option, with each having an exercise price of $0.15, which expires three years from the date of issue.
The first tranche, comprising one-billion shares, will be issued under the company’s existing placement capacity, on or about July 1.
The second tranche, for up for 1.5-billion shares, is subject to shareholder approval at a general meeting scheduled to take place on or about August 3.