Peak Rare Earths Limited (ASX: PEK) has announced that the final tranche of its capital raising has been completed with the issuance of 17,029,317 shares to its largest shareholder, Shenghe Resources (Singapore) Pte Ltd, and receipt of proceeds of A$1,702,931.
The issue to Shenghe is made up of 12,060,528 placement tranche 2 shares and 4,968,789 top-up placement shares.
With the completion of the Shenghe tranche, Peak raised a total of A~$8.5M (before costs) between November 2024 and January 20251 comprising the following:
• Tranche 1 Placement of ~A$4.0M
• Tranche 2 Placement of ~A$2.0M
• Shareholder Purchase Plan of A$2M
• Top-Up Placement to Shenghe of ~A$0.5M
Proceeds from the capital raising are expected to be augmented by the targeted 2025 divestment of the non-core Teesside site in the United Kingdom.
To find out more, please visit www.peakrareearths.com
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