Gladiator Resources Ltd (ASX: $GLA) Private Placement Announcement

Gladiator Resources Ltd (ASX: $GLA) has secured firm subscription agreements for the placement of 133,333,333 ordinary shares at $0.03 per share, raising $4M. The funds will primarily be used to fund the Company's drilling program and associated exploration activities at the Mkuju Uranium Project in Tanzania, with drilling expected to commence in May 2024.

Executive Commentary on Private Placement

We are excited to announce this backing from Mr lan Stalker and his colleagues which will allow us to progress the drilling exploration in Tanzania, particularly at South West Corner which has provided some outstanding trench assay results from the work completed late 2023. Apart from the financial backing, we are looking forward to drawing on Mr Stalkers 45 years of hands-on experience in resource development, and particularly his background in Uranium gained during his time as CEO of Uramin before it was acquired by Areva S.A for US $2.7bn in 2007. We are particularly pleased that Mr Stalker and his colleagues have recognized the potential of this project and have the confidence in the Company to back us with such a substantial injection of funds at this early stage of our exploration activities.

Summary of Private Placement Announcement

Gladiator Resources Ltd (ASX: $GLA) has secured firm subscription agreements for a private placement to raise $4M at 3 cents per share, representing an 11% premium to the latest closing share price. The funds will primarily be used to fund the Company's drilling program and associated exploration activities at the Mkuju Uranium Project in Tanzania, with drilling expected to commence in May 2024. The Company is enthusiastic about the financial backing from Mr lan Stalker and his colleagues, as well as the opportunity to leverage Mr Stalker's extensive experience in resource development and Uranium. The completion of the placement is expected to take place on 8 March 2024.