Verdant Minerals raises $2 million in a Share Placement...

Verdant Minerals raises $2 million in a Share Placement

Highlights

 Placement to an existing institutional and high net worth shareholders and new North American sophisticated investors
 Funds raised to enable the completion of environmental approvals and native title agreements, and to continue the process of promoting and commercialising the project post the completion of the feasibility study

Verdant Minerals Ltd (Verdant or the Company, ASX:VRM) is pleased to announce that a total of $2 million was successfully raised through a placement of ordinary shares to Regal
Funds Management Pty Ltd, a number of other Australian institutional and high net worth investors and new North American sophisticated investors. Amvest Capital Inc. (acting through Mann Mann Jensen Partners LP) served as the North American Placement Agent.

The Company will issue 100 million fully paid ordinary shares at an issue price of $0.02 per share, representing approximately 10% of the shares on issue (on a pre-Placement basis),
pursuant to its existing capacity under ASX Listing Rules 7.1 and 7.1A. All new shares, once issued, will rank pari passu with existing ordinary shares.

In addition to the placement of ordinary shares, this arrangement also includes the issue of 80 million options at an exercise price of $0.025 per share with an expiry of 1 July 2019 and 66.666 million options at a price of $0.03 per share with an expiry of 1 July 2020.