ASX-listed Volt Resources advises that its Share Purchase Plan has closed oversubscribed - raising a total of $1,299,000.
In addition to the Share Purchase Plan (SPP,) a further $350,000 has been raised via a top-up placement of new shares to sophisticated and professional investors at the same issue price as the SPP, taking the total amount raised to $1,649,000.
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Volt Resources’ CEO Trevor Matthews comments:
“We are very pleased by the level of support received during the SPP and the subsequent top-up placement and I would like to thank existing shareholders for their ongoing support and welcome new investors to Volt’s register.
“Importantly, this funding allows the Company to reduce its short-term debt and to advance its development funding initiatives that, once executed, will very quickly see work on the Stage 1 development of our Bunyu project get underway.
“We remain committed to securing our Stage 1 development capital in the near-term and I look forward to providing further updates to shareholders in due course.”