The Placement was strongly supported by new and existing investors from around the globe and reflects significant interest in Monger's portfolio of lithium assets located in the tier-1 mining jurisdictions of
Placement proceeds will be used for:
- Exploration field works at the Brisk and Trieste Lithium Projects;
- Potential additional acquisitions;
- Drilling at the
- General working capital.
Monger's CEO,
"The strong demand shown from Australian and international investors in this Placement validates our strategy as we continue to acquire and explore highly prospective lithium projects in the tier-1 mining jurisdictions of
The introduction of a number of high-quality institutions, together with the support shown by existing long-term loyal shareholders, has ensured that Monger is well-capitalised to maintain momentum across its portfolio of lithium assets.
I look forward to our EGM on Monday 31st October and formalising our transition to Loyal Lithium (ASX:LLI)."
Placement Details
The Placement will be issued in two tranches:
- Tranche one: the Company will issue 5.5 million New Shares at an offer price of
- Tranche two: subject to shareholder approval, the Company will issue 5.75 million New Shares at an offer price of
New Shares under the Tranche One Placement will be issued within the Company's existing placement capacity in accordance with ASX Listing Rule 7.1. Settlement of the Tranche One Placement is expected to occur on or around Tuesday,
Completion of the Tranche Two Placement is subject to shareholder approval, which will be sought at an Extraordinary General Meeting expected to be held in early
About
Contact:
Chief Executive Officer
E: aritchie@mongergold.com.au
T: +61 (0) 403 462 383
Media and Investor Relations
E: peter@nwrcommunications.com.au
T: +61 (0) 412 036 231
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