Marquee Resources Limited Announces Successful Capital Raising
MARQUEE RESOURCES LIMITED (MQR) Share Update January 2025 Thursday 16th
Marquee Resources Completes Oversubscribed Capital Raising
Marquee Resources Limited (ASX: MQR) has successfully completed an oversubscribed share placement, raising a total of $829,153.14, demonstrating strong investor confidence in the company's strategic direction.
Instant Summary:
- Raised $829,153.14 at $0.012 per share.
- 1:2 free attaching options exercisable at $0.05 with a 3-year expiry.
- 69,096,095 new shares to be issued.
- Engaged GTT Ventures as Lead Manager.
- General Meeting to be convened in late February 2025.
Successful Capital Raising
Marquee Resources Limited has announced the successful completion of an oversubscribed share placement, raising a total of $829,153.14 at an issue price of $0.012 per share before costs. This placement highlights the strong backing from high-net-worth investors and the continued support of existing shareholders.
Participants in the placement will receive a 1:2 free attaching option, exercisable at $0.05 with a 3-year expiry from the issue date, pending shareholder approval. This indicates a strong vote of confidence in Marquee's strategic direction and the potential of its diverse project portfolio.
Share and Option Issuance
A total of 69,096,095 new shares will be issued as part of this placement, utilizing the company's existing share issue capacity under ASX Listing Rules 7.1 and 7.1A. Additionally, 34,548,048 options will be issued, subject to shareholder approval at an upcoming General Meeting.
GTT Ventures has been engaged as Lead Manager for the placement and will receive customary fees, including the issuance of 5 million broker options, subject to shareholder approval. These broker options will have the same exercise price and expiry as those issued under the placement.
Next Steps
Marquee plans to convene a General Meeting of shareholders in late February 2025, where approval for the options issuance will be sought. Further details about this meeting will be communicated to shareholders in due course.
The successful capital raising reflects strong investor confidence in Marquee Resources' strategic direction and project portfolio. The additional capital will likely be used to advance the company's projects, potentially leading to future growth and value creation for shareholders. The issuance of options provides an incentive for investors to remain engaged with the company's long-term goals.
Investor Reaction:
Analysts are likely to view the oversubscription of the share placement positively, as it indicates strong demand and confidence from both new and existing investors. The involvement of high-net-worth individuals further underscores the perceived potential of Marquee's projects.
Conclusion:
Investors should keep an eye on the upcoming General Meeting for further developments regarding the options issuance. Marquee's ability to attract significant investment highlights its potential for future growth, making it a company to watch closely in the coming months.