PERTH (miningweekly.com) – Junior Widgie Nickel will raise A$12-million from sophisticated and professional investors, with the company on Monday introducing a new significant shareholder.
Widgie will issue more than 46.1-million shares, at a price of 26c each under its existing placement capacity, raising A$12-million. Virtue Investment Corporation (VIC), a subsidiary of Ascend Global Investment Fund, will subscribe for 29.5-million of these shares, worth A$7.66-million, giving the company a 9.9% interest in Widgie.
“We are delighted with the support for the placement and the addition of a number of new highly credentialled investors, including VIC, to the register,” said Widgie MD and CEO Steve Norregaard.
“We look forward to putting these funds to work with several exciting advancements in train including commercialisation of our nickel and recently discovered lithium endowment and ongoing exploration activities on our highly prospective Mt Edwards project tenure.”