A total of 48,648,649 new shares will be issued at a price of 1.85 cents per share.
The issue price meets the requirements of Listing Rule 7.1A.3, being more than 75% of the 15-day volume-weighted average price of Anson shares traded on ASX.
Total of $1.95 million raised
Anson has issued 40,540,541 shares representing $750,000 of the placement with the remainder anticipated to settle on Friday, July 24.
Including the share purchase plan (SPP), which was completed on July 21 raising $1.045 million, the company expects to raise a total of $1.945 million.
Accelerating Paradox Brine Project
Funds raised will allow Anson to accelerate development at its flagship Paradox Brine Project in the US with a pre-feasibility study (PFS) to begin this quarter.
Concurrently with and to feed into the PFS, several initiatives are ongoing including an engineering study for the supply of power to the proposed production plant as well as negotiations with potential gas suppliers.
The company is now also able to progress plans for exploration at its Yellow Cat Uranium Project, which is 40 kilometres from the flagship Paradox project in Utah as well as at its Bull Nickel-Copper-PGE Project, 12 kilometres southwest along strike of Chalice Gold Mines Limited (ASX:CHN) tenements in Western Australia.