Business Reporter
Prospect Resources Limited (ASX:PSC) (Prospect or the Company) is pleased to announce the results of its Share Purchase Plan (SPP) which was announced to the ASX on 2 August 2024.
The SPP was open to Eligible Shareholders who were able to apply for up to A$30,000 of New Shares in Prospect at $0.10 per New Share without incurring brokerage, commission or other transaction costs. The SPP was undertaken on the same terms as Prospect’s successful A$8 million capital raising (Placement) to institutional and sophisticated investors as announced on 2 August 2024.
The SPP closed at 5:00 pm (AEST) on Wednesday, 4 September 2024 with the Company receiving valid applications for 11,230,000 New Shares, raising a total of A$1,123,000 (before costs).
Funds raised from the SPP in conjunction with funds raised from the Placement are to be principally used for:
- advancing exploration and development activities on Prospect’s Mumbezhi Copper Project (85% PSC) in Zambia;
- seeking other mineral asset exploration and development opportunities, particularly within Zambia; and
- general working capital purposes.
The New Shares subscribed for under the SPP will be issued today, 11 September 2024 and will rank equally with all other fully paid ordinary shares on issue.
The Company wishes to thank shareholders for their continued support.
