Hillgrove Resources Limited (ASX:HGO) Announces $16 Million Equity Raising
Equity Raising
Hillgrove Resources Limited announced a combined equity raising of up to $16 million at $0.035 per new share. This includes a $13 million placement to institutional and sophisticated investors and a $3 million Share Purchase Plan for existing eligible shareholders.
Underwriting Agreement
Blue Ocean Equities Pty Ltd has agreed to underwrite up to $2.2 million of the Share Purchase Plan, ensuring Hillgrove receives the full $3 million (contingent upon valid applications). Hillgrove will pay Blue Ocean a 5% underwriting fee. The underwriting is subject to shareholder approval at the Annual General Meeting on 6 May 2025.
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