Hawsons Iron Ltd raises $3.25 million through successful placement

Hawsons Iron Ltd (ASX: $HIO) has successfully completed an institutional and shareholder placement, raising up to approximately $3.25 million. The placement includes an approximately $2.25 million single tranche Placement and a $1 million Shareholder Placement. The funds raised will be utilized for the strategic investor process, pre-Bankable Feasibility Study (BFS) activities, and working capital.

Executive commentary on the successful placement

Managing Director Mr Bryan Granzien stated, 'The Placement and Shareholder Placement would provide over 12 months funding for Hawsons and enable it to conclude the strategic investor process and continue to progress pre-BFS activities.' Hawsons Chair Mr Jeremy Kirkwood added, 'The Board has approved this Placement and Shareholder Placement to ensure Hawsons is well funded and in a strong position to negotiate appropriate terms with strategic investors going forward.'

Summary of Hawsons Iron's placement and outlook

Hawsons Iron Ltd has successfully raised approximately $3.25 million through a Placement and Shareholder Placement. The funds will be used to support the strategic investor process, pre-BFS activities, and working capital. Managing Director Mr Bryan Granzien highlighted the progress of the strategic investor process and the anticipation of commencing the BFS as soon as possible. The Board's approval of the placement reflects the company's confidence in shaping a strong position for negotiations with strategic investors. The Shareholder Placement offers eligible shareholders an opportunity to support the company's funding and growth.