Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Belararox Raises $2.5 Million Via Placement

by June 20, 2023
June 20, 2023
Belararox Raises $2.5 Million Via Placement

Belararox Limited (ASX:BRX) (“Belararox” or “the Company”) is pleased to announce a placement (“Placement”) raising $2.5 million (before costs), at $0.33 per share, to fund a range of exploration activities at the Company’s Australian projects while simultaneously accelerating exploration at the highly prospective TMT project in Argentina.

Investment Highlights

Successful share placement undertaken, with commitments to raise $2.5 million.
Placement was strongly supported by new and existing sophisticated and professional investors.The new equity will help fund a range of exploration activities at the Company’s Argentine and Australian projects over the next 6-12 months.Belararox is focused on commencing exploration work at 11 significant porphyry and associated targets at the TMT Project in Argentina as well as pursuing the significant outcropping pegmatites reported at Bullabulling (WA) and progressing exploration work at Belara (NSW).

Belararox’s Non-Executive Chairman, Neil Warburton, commented:

“The overwhelming support received by existing and new shareholders is most encouraging as we commence exploration activities at the exciting TMT Project in Argentina and progress the good work achieved at our Bullabulling and Belara / Native Bee Projects in Australia.

The Company has a pipeline of activities planned for the 2nd half of 2023 on our 3 Projects which are now funded. We expect a continuous release of news flow as we build on the successful exploration results achieved to date.”

Placement

The structure of the Placement is as follows:

i. 7.58 million fully paid ordinary shares at $0.33 per share (“Placement Shares”), representing a 16.5% discount to both the last traded price of BRX shares on 14 June 2023 and the 15-day volume weighted average price; and

ii. 3.79 million free attaching options to subscribe for fully paid ordinary shares to be issued to investors on a one-for-two basis with an exercise price of $0.66 (being a 100% premium to the Placement price) and an expiry date that is three years from their date of issue (“Placement Options”).

The Placement Shares will rank equally with, and carry the same terms as, existing shares on issue.

The Placement Shares, Placement Options and Lead Manager Options are not subject to shareholder approval and will be issued within the Company’s existing placement capacity under ASX Listing Rules 7.1 and 7.1A. It is expected that the Placement Shares will be issued on or about 27 June 2023. The Placement Options and Lead Manager Options will be issued on or about the same date together with a prospectus or cleansing notice (as applicable) to facilitate their quotation (and on-sale) on the ASX, subject to meeting the ASX’s minimum listing requirements.

Furthermore, the attaching Placement Options are expected to provide meaningful additional capital the Company’s balance sheet, at a materially higher valuation than the Placement price, should the Company achieve further exploration success at either of its Australian or Argentinian projects.

Click here for the full ASX Release

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
Which Way Is The Dollar Heading? Watch This ONE Signal
next post
3 Ways to Invest in Palladium (Updated 2023)

Related Posts

Aether Global Innovations Corp. Signs Profit and Intellectual...

September 7, 2023

Pure Life Healthcare Management

October 19, 2023

Charbone Hydrogene annonce les resultats financiers T1 2025

May 30, 2025

Element 25 SPP Investor Presentation May 2024

May 27, 2024

Analyst Deems Brightstar Resources an Active Agitator Amid...

May 20, 2024

Energy Fuels Enters into MOU to Secure Near-Term,...

December 29, 2023

5 TSX and TSXV Potash Companies (Updated 2023)

October 3, 2023

CLEO Appoints CRO to Manage U.S. Ovarian Cancer...

April 12, 2024

Blue Sky Uranium

June 30, 2023

Analyst Firm Cites Altech’s ‘Revolutionary’ Battery Tech as...

February 21, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

    • Editor’s Picks: Gold Faces Bumpy Week on Trade Tensions, Platinum Stages Breakout

    • Run Your Stock Portfolio Like a Pro Sports Team

    • Leadership Rotation Could Confirm Corrective Phase

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

    Categories

    • Business (1,223)
    • Investing (2,504)
    • Politics (3,699)
    • Stocks (1,616)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved