First Au’s SPP Oversubscribed, strongly backed by existing Shareholders and Directors

  • Jul 15, 2020 AEST
  • Team Kalkine

First Au Limited (ASX: FAU) announced the closure of share purchase plan with receipt of applications worth over $3,033,500 which is almost 11 times the targeted amount of $280,000 for the fund raising program.

First Au will scale back applications by almost 89% offers on the basis of eligibility of each shareholder to the SPP. The eligible directors and officers applied for shares worth $100,000 collectively.

First Au intends to utilise the capital raised from the share placement and purchase plans together towards the exploration of flagship gimlet, acquisition of VicGold and Snowstorm and general capital.

 


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