Mako Gold Limited (ASX: MKG) intends to raise up to A$500,000 by offering certain eligible shareholders the opportunity to participate in a share purchase plan (SPP) to subscribe for new shares in the company.
The SPP offer is to be undertaken in conjunction with the placement of approximately 200M new shares at an issue price of A$0.01 per share to raise up to A$2M, as announced by the company on 17 November 2023.
The company has reported that sophisticated and professional investors who participated in the placement are to receive one free attaching unlisted option for every two shares subscribed for under the placement, exercisable at A$0.02 per option at any time on or before 31 January 2025.
The funds raised under the offer will be used to explore the Napié Gold Project in Côte d’Ivoire that hosts a maiden JORC 2012 mineral resource estimate of 22.5Mt at 1.2g/t for 868koz Au at the Tchaga and Gogbala Prospects, and to explore Mako’s battery metals portfolio, including the Korhogo Manganese Project and the new lithium/rare earths 400km2 permit application (Brobo Project) expected to be granted in the coming weeks.
To find out more, please visit www.makogold.com.au
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