Emerald Resources announces $75 million Share Placement

January 24, 2020 01:29 PM AEDT
Team Kalkine

Emerald Resources NL (ASX:EMR) has announced a successful placement to raise $75 million in two tranches as announced on 20 January 2020.

Tranche 1 – Unconditional placement of 762.1 million New Shares to raise approximately $30.484 million under the Company’s 25% Placement capacity.
Tranche 2- Conditional placement of 1,112.9 million New Shares to raise approximately $44.516 million, which is subject to shareholder approval.
The funds raised will be used for development activities at the Okvau Project, Regional exploration programme, and to meet the ongoing working capital requirements and costs of the Placement.
There is strong support from new and existing institutional shareholders.
Euroz Securities Limited acted as the Lead Manager, and Bookrunner to the Placement and Sprott Capital Partners LP served as Co-Lead Manager.

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