Blackstone Minerals (ASX: BSX) has successfully completed the institutional component of its Entitlement Offer. The company has received firm commitments totaling approximately $550,000 from Nanjia Capital Limited. This marks an important step in their accelerated non-renounceable pro rata entitlement offer.
Blackstone Minerals has raised $550,000 through the institutional component of its Entitlement Offer, with the retail component set to commence on 11 November 2024. The proceeds will be allocated to the Wabowden Project, the Definitive Feasibility Study of the Ta Khoa Refinery, and strategic partnership processes. The retail offer is partially underwritten by Nanjia Capital, with a commitment of $1.65 million. Blackstone is focused on advancing its strategic goals while allowing shareholders to participate equally alongside institutional investors.
We are pleased with the support from Nanjia Capital and our institutional investors. This funding allows us to continue advancing our key projects, including the Wabowden Project and the Ta Khoa Refinery feasibility study.