Enterprise Metals Ltd (ASX:ENT) has successfully completed the placement of 75 million shortfall shares, amounting to $300,000, from its recent 1 for 2.5 Entitlement Offer. The shares have been acquired by professional and sophisticated investors, with each participant also receiving 1 free attaching unlisted option for every share subscribed for and issued. The allotment of the Shortfall Shares is scheduled to take place on 30 September 2024.
The Company is pleased to have secured the placement of the shortfall shares with professional and sophisticated investors. This placement reflects the confidence of these investors in Enterprise Metals' projects and future prospects. We believe that this additional funding will further strengthen our position and support our ongoing exploration activities, ultimately contributing to the generation of shareholder wealth through discovery and production.
Enterprise Metals Ltd (ASX:ENT) has successfully completed the placement of 75 million shortfall shares, amounting to $300,000, from its recent 1 for 2.5 Entitlement Offer. The placement with professional and sophisticated investors signifies their confidence in the Company's projects and future potential. The allotment of the Shortfall Shares is expected to occur on 30 September 2024. Enterprise Metals remains focused on applying advanced exploration technologies to its mineralised tenure, aiming to create value for its shareholders through discovery and production. The Company's ongoing activities, supported by this placement, are aligned with its commitment to generating shareholder wealth and pursuing exploration opportunities.