Matsa Resources Limited (“Matsa” or “the Company” ASX:MAT) is pleased to advise that it has raised A$2.5 million, before costs, in a placement to domestic and international institutional and sophisticated investors. The placement of approximately 8.3 million shares was made at a price of A$0.30 per share which represents a 8.81% discount to the 20 day VWAP of A$0.329 per share. Patersons Securities was the Lead Manager to the raising and Andover Corporate Finance assisted the Company. Matsa has used this opportunity to bolster an already strong financial position to further explore a number of the Company’s projects in the Fraser Range. The funds raised will be applied by the Company for: 1. Additional drilling of the Symons Hill, Killaloe, and Fraser Range North projects; 2. Development and geological work on prospective projects including Symons Hill; 3. General working capital; and 4. Potential corporate opportunities
MAT Price at posting:
36.0¢ Sentiment: LT Buy Disclosure: Held
