- $2 million raised via Placement of Shortfall from the recent Share Purchase Plan
- Funds to be primarily used for the ongoing drill programme and resource work at the Commonwealth gold-silver-base metals project in New South Wales
Impact Minerals' Managing Director, Dr Mike Jones, said "We are very pleased to have had strong and mostly unsolicited demand for this shortfall because we are now well funded to continue the major drill programme at our emerging high grade gold-silver discovery at Silica Hill."
The Company has received firm commitments from sophisticated and professional investors to raise $2.0 million through the Placement, being 111,111,111 Shares and 166,666,667 free attaching Quoted Options.
Shares and free attaching Quoted Options issued under the Placement will be issued on the same terms and conditions as those under the Share Purchase Plan, being 1.8 cents for each Share, with three free attaching Quoted Options exercisable at 4 cents on or before 15 June 2020 for every two new Shares subscribed for.
The Company will lodge a prospectus with ASIC for the purposes of section 708A(11) of the Corporations Act to remove any trading restrictions on the Shares and Options issued under the Placement.
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About Impact Minerals Limited
Impact Minerals Limited (ASX:IPT) is an exploration company listed on the ASX in November 2006. The Company manages extensive tenement holdings (>2,000 km2) within Australia featuring significant potential for high-grade mineral deposits of gold, silver, lead, zinc, copper, nickel and PGM's. The Directors of the Company have extensive experience in mineral exploration and a strong history of exploration success, business development and corporate management. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations. Impact Minerals intends to build wealth for its shareholders through a vigorous campaign of project generation and evaluation with a view towards profitable mining operations.
Impact Minerals Limited