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Anson Resources' shareholders snap up share offer which is two-times subscribed

In total Anson raised $1.2 million as it progresses to drilling for lithium.

Shareholders have shown their support

Anson Resources Ltd (ASX:ASN) has some very supportive shareholders.

The company targeted a share purchase plan raising of $400,000, and received more than double with $935,000 in applications.

Given the overwhelming demand, Anson accepted $760,000 in applications.

There was also a private placement for $460,000, taking the total raising to just over $1.2 million.

The plan for the funds is to drill the company's lithium brine project in the Paradox Basin, Utah, U.S.

SRK Consulting has validated re-entry of the historic Gold Bar Unit 2 well, and now Anson has submitted a Notice of Intent permit application with the U.S. Bureau of Land Management in Utah.

Bruce Richardson, managing director, commented:

"The strong support from our existing shareholder base has indicated their support for the Utah Lithium Project development strategy.

"The additional funds raised will enable Anson to fast track its exploration and development strategy."

Quick facts: Anson Resources Ltd

Price: 0.025 AUD

Market: ASX
Market Cap: $19.59 m

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Anson Resources initiates $3 million fundraising to advance its Paradox...

Anson Resources Ltd (ASX:ASN) CEO Bruce Richardson tells Proactive the firm has launched a share purchase plan (SPP) offer to raise up to $2 million as part of a $3 million capital raising effort to advance its Paradox Brine Project in Utah. Richardson says the funds raised will be used to...

on 17/6/20

2 min read