Australian mineral exploration firm focused on vanadium and uranium, GTI Resources Limited (ASX:GTR) has notified that the closing date for its underwritten Share Purchase Plan (SPP) has been extended to 5:00pm (WST) on 21 August 2020 (initially 28 July 2020).
Under the SPP, shareholders have the opportunity to purchase up to $30,000 new fully paid ordinary shares at an issue price of $0.03 per new share, free of all brokerage and commissions.
The extension gives shareholders additional time to receive the Offer Document that may have been impacted due to COVID 19’s effect on postal services.
GTI Resources is conducting the SPP while waiting for the processing of aeromagnetic data at the Niagara Gold Project. The Company has also recently acquired an extensive data package for the new uranium projects it is acquiring at the Jeffrey, Rats Nest and Moki Projects in Utah.
GTI recently completed ~$1.8 million placement via the issue of ~60.38 million shares at an offer price of $0.03 per share.
The raised funds are intended to be utilised for funding the additional ground acquisition at the Jeffrey Project, Utah and to accelerate the scale of the ongoing exploration programs in Australia and the US.
GTR traded at $ 0.028 at 11:49 AM AEST on 29 July 2020.
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