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Meeka Metals Ltd (ASX:MEK) has received binding commitments to raise $6.75 million to fund the next phase of exploration activity at the flagship Murchison Gold Project in Western Australia. The placement has been strongly supported by existing significant shareholders of the company as well as new institutional, sophisticated and professional investors. Meeka's placement was priced at 6.8 cents a share, which represents an 8% discount to Meeka’s last trading price of 7.4 cents. The company anticipates that the placement shares will be issued on or about Thursday, June 3, 2021. Placement shares will be issued under the company’s available placement capacity under ASX Listing Rule 7.1. “Strong support” by existing shareholdersChief executive officer Tim Davidson said: “We are delighted to have received such strong support from our existing shareholders, and we also welcome a range of new institutional and sophisticated investors to our register.“The proceeds ensure the company is well funded over the coming 12 months to unlock the enormous value we have identified at the Murchison Gold Project.”Shaw and Partners Limited acted as sole lead manager to the placement.
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