On 28 October 2020, Cauldron Energy Limited (ASX:CXU) announced an A$1.6 million capital raise plan via placements through issuing 51,612,903 ordinary shares at an issue price of A$0.031 per share
Today, the company announced to the exchanges that it successfully closed the placement.
For More on the news read: Cauldron Energy (ASX:CXU) gathers steam on potential high-grade gold target in Blackwood
The FPO holders received one free attaching unlisted options and were allocated on the basis of 1 option for every 2 newly issued shares at an exercise price of A$0.05. The participants can exercise their options on or before 30 November 2023.
Cauldron will use the funds to intensify the exploration work at its Blackwood Gold Project in Victoria.
Cauldron Energy was trading at A$0.045 at AEDT 11:31 AM, with a market cap of A$18.87 million as on 09 November 2020