Jameson Resources Secures Nearly AU$10 Million Through Entitlement Offer, Investor Placements; Shares Up 4%
Jameson Resources (ASX:JAL) has raised around AU$9.7 million through its accelerated non-renounceable entitlement offer and placements, with strong retail demand driving more than 50 million additional shares sought under its top-up facility, according to a Friday filing with the Australian bourse.The retail component of the offer raised around AU$4.2 million before costs, closing on Sept. 18, with eligible shareholders able to subscribe for one new ordinary share for every 5.5 existing shares at an issue price of AU$0.035 per share, per the filing.The company also completed an additional placement of about AU$913,000 to selected sophisticated and institutional investors under its existing placement capacity, the filing said.The funds will primarily support the completion of preparations for the final environmental assessment application for the Crown Mountain Steelmaking Coal Project, along with Indigenous engagement, offtake and funding discussions, project and corporate costs, working capital, and entitlement offer expenses, the filing added.The company's shares rose 4% in recent Friday trade.
