Marquee Resources Completes Oversubscribed Share Placement, Shares Surge

2 min read | January 17, 2025 12:00 PM AEDT | By Team Kalkine Media

Details of the Share Placement

The placement, which was oversubscribed, involved the issuance of 69,096,095 new shares under the company’s existing share issuance capacity per ASX Listing Rules 7.1 and 7.1A. Additionally, participants will receive a 1:2 free attaching option (totaling 34,548,048 options) that will be exercisable at AU$0.05 per share with a 3-year expiry, contingent on shareholder approval at the company’s upcoming General Meeting in late February 2025.

The funds raised through this placement will support the company's ongoing projects, reflecting confidence in Marquee’s strategic direction.

Investor Support and Lead Management

Marquee highlighted the strong backing from both high-net-worth investors and loyal existing shareholders, which underscores the market’s confidence in the company’s potential.

The placement was managed by GTT Ventures, who acted as the Lead Manager. As part of the customary fees, GTT Ventures will receive 5 million broker options with terms identical to those issued in the placement, subject to shareholder approval.

Market Impact

Following the announcement, MQR shares surged 7.14% to 1.5 cents, reflecting investor optimism about the company’s future.

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