Accelerate Resources (ASX:AX8) Announces A$1.35M Capital Raising
Capital Raising Details
Accelerate Resources (ASX:AX8) has successfully secured A$1.35 million through firm commitments from professional and sophisticated investors. The capital raising involves the issuance of 135 million new shares at A$0.01 each, representing a 23.1% discount to the company’s last traded price.
Advancing Gold Strategy
Proceeds, combined with existing cash reserves, will focus on Accelerate’s new gold strategy, including exploration activities at the recently acquired Kanowna East Gold Project. Located in the highly prolific Kalgoorlie region of Western Australia, the project is strategically positioned 25km from the Super Pit and 9km east of the Kanowna Belle mine.
Board Changes
Ms Zhan has resigned as a Director of the Company with immediate effect. Chairman Richard Hill stated, “On behalf of the Board, I would like to thank Ms Zhan for her dedication and commitment to the Company since its listing. We appreciate her contributions and wish her all the best in her future endeavours.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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