viewAnson Resources Ltd

Anson Resources completes SPP to raise A$1.045 million

The company has made further progress towards development of its bromine and lithium production plan at the Paradox Brine Project in the USA with land and cultural surveys accepted by the Utah State Government.

Anson Resources Ltd - Anson Resources completes SPP raising a total of $1.045 million
Anson is finalising a $1 million top-up placement for professional investors

Anson Resources Ltd (ASX:ASN) has completed its share purchase plan (SPP) raising a total of A$1.045 million before costs.

The SPP has been completed at an issue price of 1.85 cents per share, being a 20% discount to the volume-weighted average price of Anson shares on ASX over the five trading days before the issue date of the SPP shares.

A total of 56,486,587 new shares will be issued under the SPP.

Funds to advance Paradox Brine Project

Anson closed the SPP on July 10 after extending the closing date to allow eligible shareholders additional time to participate in the SPP as part of a $3 million capital raising effort.

This decision was made due to the impact COVID-19 had on the time taken for the prospectus and application forms to reach all shareholders.

Funds raised will be used to advance the pre-feasibility study, environmental studies, permitting and other exploration at the Paradox Brine Project in the US state of Utah as well as for general working capital.

Top-up placement

The SPP was partially underwritten to $1 million by Pendragon Capital Limited.

Anson is also finalising the $1 million top-up placement to professional and sophisticated investors at the same issue price as the SPP to raise a further $1 million.

Quick facts: Anson Resources Ltd

Price: 0.025 AUD

Market: ASX
Market Cap: $19.59 m

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on 17/6/20

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