My goodness Raider looks a completely different picture than the...

My goodness Raider looks a completely different picture than the doom and gloom that mongy painted hehe ..cant get all wild guesses correct

ASX ANNOUNCEMENT COMPLETION OF PLACEMENT AND CAPITAL RAISING UPDATE
Strategic Energy Resources Limited (ASX Code: SER) (Company) is pleased to announce that it has received binding commitments from professional and sophisticated investors for the placement (Placement) of approximately 52.7 million new fully paid ordinary shares (Shares). The Shares will be issued at $0.005 (0.5 cents) per Share. The total amount to be raised through this Placement is approximately $263,717 (before costs) utilising the Company’s current capacity in accordance with ASX Listing Rule 7.1 (Tranche 1).
An Appendix 3B in relation to this issue has been lodged.

Capital Raisings
Further to above and the Company’s ASX Announcement dated 15 May 2017, the Company proposes to issue up to a further 480,000,000 Shares as follows:
• 380,000,000 Shares (Tranche 2) issued at $0.005 (0.5 cents) per Share following, and subject to, shareholder approval at a general meeting of the Company, anticipated to be held in July 2017 (with permission to be sought for Directors of the Company to participate); and • 100,000,000 Shares issued at $0.005 (0.5 cents) per Share pursuant to a Share Purchase Plan Offer (SPP) proposed to be completed in due course.
The funds raised from the Placement and SPP will be used for the following activities:
• Exploration activities including drilling at the Saxby Gold Project; • Conduct due diligence activities including investigating the feasibility of mining at Ambergate; and • Working capital requirements of the Company (including general administration costs).

For further information, please contact the Company: Telephone: +61 3 9692 7222 Facsimile: +61 3 9077 9233

or visit website www.strategicenergy.com.au

-ends-