Announcement of capital raising through offers of placement options, SPP shares, and top-up shares

Buxton Resources Limited (ASX: $BUX) has announced a capital raising initiative through the offers of 14,705,890 Placement Options, 2,500,000 Options to the Lead Manager, up to 11,764,706 SPP Shares, and the offer of Top-Up Shares at an issue price of 8.5 cents each. All the offers are subject to Shareholder approval at the Company's general meeting to be held on 17 July 2024.

Executive commentary on the capital raising initiative

The Company is focused on raising necessary funds to support its objectives and future projects. The capital raising initiative through the offers of placement options, SPP shares, and top-up shares is a strategic move to ensure the Company's financial stability and to facilitate its exploration and development activities. The Company aims to utilize the raised funds for general working capital, corporate administration, operating costs, exploration, and development activities, and potentially for other complementary projects.

Summary of the capital raising announcement and outlook

Buxton Resources Limited (ASX: $BUX) has announced a capital raising initiative through the offers of placement options, SPP shares, and top-up shares, subject to Shareholder approval. The Company aims to utilize the raised funds for general working capital, corporate administration, operating costs, exploration, and development activities, and potentially for other complementary projects. The capital raising initiative reflects the Company's commitment to securing the necessary resources to support its ambitions and goals for future projects and corporate strategy.