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Anson Resources accepts oversubscriptions bringing top-up placement funds to A$1.16 million

Funds raised will allow the company to accelerate development at its flagship Paradox Brine Project with a pre-feasibility study to begin this quarter.

Anson Resources Ltd - Anson Resources accepts over subscriptions of more than $1 million
Concurrently with and to feed into the PFS, several initiatives are ongoing

Anson Resources Ltd (ASX:ASN) has accepted oversubscriptions in excess of the originally planned $1 million top-up placement and has firm commitments for an additional $260,000, bringing the total to be raised to $1.16 million before costs.

A total of a further 22,162,163 new shares will be issued to professional and sophisticated investors under the placement at an issue price of 1.85 cents per share, in addition to the 40,540,541 already issued.

Listed under Listing Rule 7.1A.3

The shares will be issued in accordance with Anson’s placement capacity under ASX Listing Rule 7.1A with the issue price meeting 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.

Viriathus Capital Pty Ltd acted as lead manager to the placement.

Firm top-up placement commitments

On July 22 the company received firm commitments of $900,000 in relation to the top-up placement to professional and sophisticated investors.

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.

Quick facts: Anson Resources Ltd

Price: 0.025 AUD

ASX:ASN
Market: ASX
Market Cap: $19.59 m
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