OreCorp To Raise $13.56 Million For Supporting the Cash Position

  • May 19, 2020 AEST
  • Team Kalkine

OreCorp Limited (ASX:ORR) to raise $13.56 million through an institutional placement of 45.2 million shares at an issue price of $0.30 per share.

  • The Company would issue 45 million units in a single tranche on 26 May 2020, while issuing the remaining unit post a general meeting.
  • The placement is anticipated to increase the cash position of the Company to ~ $26 million.
  • The issue price reflects 11.8 per cent discount on the closing price of the stock on 14 May 2020 ($0.340) and a 7.5 per cent discount on the 5-day volume weighted average price.

 


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