Siren Gold Limited (ASX: SNG) has received firm commitments from institutional, professional and sophisticated investors to raise A$2.6 million.
Funds raised under the Placement will be used to continue exploration at the high-grade Reefton and Sam’s Creek Goldfields in New Zealand, specifically:
• mineral resource definition, soil sampling and trenching at Big River; • reconnaissance drilling, mapping and soil sampling at Sam’s Creek; • drilling, mapping and trenching at Lyell and Auld Creek; and • working capital and costs of the Placement.
Subject to shareholder approval, and in addition to the Placement, directors of the company, and their related parties, have committed to participate in the Placement and have subscribed for A$180,000 of Shares at the same issue price.
Morgans Corporate Limited acted as Lead Manager of the Placement.
“We are very pleased with the strong support from both new and existing shareholders in the capital raising,” Managing Director, Brian Rodan, said.
“Siren Gold’s projects hosts significant gold resources which have been defined and grown through the efforts of the Company. This resource growth has been complemented by significant targeting work, for future drilling, which we are very excited about.
“We look forward to seeing the funds raised being applied to continuing to grow the Siren Global Resource base.”
For further information please visit: https://www.sirengold.com.au/