Blackstone Minerals Limited (ASX: BSX) has raised A$22.1M before costs in Tranche 1 of a Placement to raise up to A$55M.
Tranche 2 to raise A$32.9M will be subject to shareholder approval at a shareholder meeting expected to be held on December 16, 2021.
Blackstone Minerals Limited has now completed a final utilisation of its Controlled Placement Agreement (CPA) with Acuity Capital (Acuity) and has by mutual agreement with Acuity terminated the CPA, effective immediately.
Blackstone will receive A$4.4M from the offset of all remaining collateral shares that Acuity was otherwise required to return to the company upon maturity or early termination of the CPA. The collateral shares were originally issued to Acuity on August 16, 2019, when the CPA was established. The company also confirms that it and Acuity have been released from any and all obligations under the CPA.
Funds from the capital raising will also be used to complete feasibility studies, advance exploration within the Ta Khoa district and regional opportunities such as Chim Van, execute strategic investments and for general working capital purposes.
For further information please visit: https://www.blackstoneminerals.com.au/