Results of Share Purchase Plan
Results of Share Purchase Plan

Perth, Dec 22, 2022 AEST (ABN Newswire) - Musgrave Minerals Limited (ASX:MGV) (6MU:FRA) (MGVMF:OTCMKTS) is pleased to announce the successful completion of its Share Purchase Plan (SPP), as announced on Friday 25 November 2022, which closed at 4.00pm (AWST) on Tuesday 20 December 2022.

Musgrave intended to raise $2 million under the SPP and reserved the right to scale-back applications or raise a higher amount at its absolute discretion. Musgrave raised $2,117,000 through the SPP and confirms that all 212 valid applications received from eligible shareholders were accepted.

The SPP complemented the Company's recent placement to sophisticated and institutional investors (Placement), which raised $8 million, as announced by the Company on 25 November 2022.

The Musgrave Board of Directors would like to thank shareholders who participated in the SPP for their support. 10,585,000 new fully paid ordinary shares in the Company (New Shares) will be issued under the SPP at $0.20 each, which is the same issue price paid by investors under the Placement.

Musgrave expects to issue the New Shares on Thursday 29 December 2022 with Quotation of the New Shares and despatch of holding statements on Friday 30 December 2022.


About Musgrave Minerals Ltd

Musgrave Minerals Ltd ASX MGVMusgrave Minerals Ltd (ASX:MGV) is an active Australian gold and base metals explorer. The Cue Project in the Murchison region of Western Australia is an advanced gold and copper project. Musgrave has had significant exploration success at Cue with the ongoing focus on increasing the gold and copper resources through discovery and extensional drilling to underpin studies that will demonstrate a viable path to development in the near term. Musgrave also holds a large exploration tenement package in the Ni-Cu-Co prospective Musgrave Province in South Australia.

    


Contact

Rob Waugh
Managing Director
Musgrave Minerals Limited
+61 8 9324 1061

Angela East
Associate Director
Media and Capital Partners
+61 428 432 025



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