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Artemis Resources completes $5.6 million capital raise

Funding will cover the inaugural drill program at Paterson Central.

Artemis Resources Ltd - Artemis Resources completes $5.6 million capital raise
Around 80 million shares were issued at a price of 7 cents per share

Artemis Resources Ltd (ASX:ARV) has completed a $5.6 million capital raise at 7 cents per share via the issue of 79,992,856 shares to institutions and professional investors.

Non-executive chairman Mark Potter said: “The board takes this opportunity to welcome new shareholders who participated in the capital raise and thank our existing shareholders for their ongoing support.

“The company is now well-funded as it moves into an extremely busy exploration phase at our Paterson Central Project as well as assay reporting and further drill planning at our Greater Carlow Project and elsewhere across the portfolio.”

Funding exploration

Funds will be used for an inaugural drill program at Paterson Central, continued exploration and resource drilling at the Greater Carlow Project as well as general working capital.

The company recently completed its RC drilling program of 126 holes for 3,694 metres at Carlow West as well as 14 holes for 376 metres at a new high-priority area named SingSix, which is halfway between Carlow West and Carlow Castle.

Quick facts: Artemis Resources Ltd

Price: 0.11 AUD

ASX:ARV
Market: ASX
Market Cap: $123.18 m
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