Volt has received binding commitments from sophisticated and institutional investors to raise gross proceeds of A$2m via the issue of 87m shares at A$0.023, an 8% discount to the prevailing share price. It represents c 6% of the outstanding share capital. With Volt’s eagerly anticipated Stage 1 Bunyu FS to be released and a US$40m Tanzanian Bond Issue due shortly, these funds will hopefully allow Volt to transition to the project financing stage without any further shareholder dilution.
15 Jun 2018
Fund-raise bolsters coffers prior to Bunyu FS
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Fund-raise bolsters coffers prior to Bunyu FS
Volt has received binding commitments from sophisticated and institutional investors to raise gross proceeds of A$2m via the issue of 87m shares at A$0.023, an 8% discount to the prevailing share price. It represents c 6% of the outstanding share capital. With Volt’s eagerly anticipated Stage 1 Bunyu FS to be released and a US$40m Tanzanian Bond Issue due shortly, these funds will hopefully allow Volt to transition to the project financing stage without any further shareholder dilution.