Dominion Minerals (ASX:DLM) Acquisition and Capital Raising Update

Dominion Minerals Limited (ASX:DLM) has provided an update on the proposed acquisition of Exceptional Graphite (Aust) Pty Ltd, Exceptional Graphite Resources Limited, and the White Hill exploration licences. The company also announced its intention to conduct a capital raising to raise up to $3,500,000 by offering up to 116,666,667 shares at an issue price of $0.03 per share. Additionally, the proposed appointment of Mr Andrew Lawson as the Chief Executive Officer is subject to formal agreement with the company.

Executive Commentary on Proposed CEO Appointment and Capital Raising

Mr Andrew Lawson, with over 25 years' experience in the resources industry, is proposed to be appointed as the Chief Executive Officer of Dominion Minerals. His extensive background in managing diverse mining and commodity operations, along with his experience in early-stage projects, positions him well to lead the company. The decision to conduct a capital raising to raise additional funds for exploration programs at the Morogoro Project reflects the company's commitment to its strategic growth post-completion of the Acquisition.

Summary of Dominion Minerals (ASX:DLM) Announcement

Dominion Minerals (ASX:DLM) has updated its plans for the proposed acquisition and capital raising. The company intends to raise up to $3,500,000 through the offer of shares, with a minimum subscription requirement to raise $3,000,000. The proposed appointment of Mr Andrew Lawson as the Chief Executive Officer, with the potential to be appointed as the Managing Director, brings a wealth of experience to the leadership team. The indicative timetable for completion of the Acquisition and associated transactions has been provided, subject to final approval from ASX. The company's decision to raise additional funds for exploration programs at the Morogoro Project demonstrates its focus on growth and development in the resources industry.