PERTH (miningweekly.com) – ASX-listed junior Corizon Resources will raise some A$3-million through a share placement to fund exploration work on its iron-ore and gold targets, in Western Australia.
The company on Friday announced that it would raise A$2.97-million through an oversubscribed share placement to institutional and professional investors, with 297.5-million shares to be issued at a price of 1c each.
Applicants will also receive one new option for every two shares issued, which will have an exercise price of 2c each and an expiry date of August 8, 2021.
The share placement was conducted under the company’s existing capacity, and will not require shareholder approval.