Under the institutional‐led placement, St George has issued about 38.63 million shares at 15 cents each to raise $5,795,000.
In addition, St George has extinguished a corporate loan facility of $850,000 through the issue of shares at 15 cents per share.
The company has no further loan facilities as on today.
Growing investor interest in the nickel space
St George executive chairman John Prineas said: “We emerge from this capital raising with a balance sheet that is significantly strengthened, and the capacity to maintain the momentum of our extensive drilling and exploration programmes.
“With growing investor interest in the nickel space and exploration programmes in full swing, it is an exciting time for St George shareholders.”