Iltani Resources Completes $2.2M Placement

Iltani Resources Limited (ASX:ILT) has successfully completed a $2.2 million placement to institutional and sophisticated investors. The placement was completed at $0.21 per share, representing a 5.2% discount to the 10-day volume weighted average share price. The company's Board of Directors has committed to subscribe for $75,000 of shares at the issue price of $0.21 per share, subject to shareholder approval. The funds raised will be utilized to accelerate exploration at the Antimony Reward and Orient Projects in Northern Queensland.

Iltani Managing Director's Commentary

We're pleased to have completed this Placement and now we can accelerate drilling activities at our exciting Antimony Reward and Orient Projects in Queensland. The Placement was well supported by a number of new and existing shareholders who have shown faith in the management team to progress the Company's projects. I would like to welcome all new shareholders to the register and thank the continued support of our existing shareholders who participated in the Placement.

Summary of Iltani Resources' Placement

Iltani Resources Limited (ASX:ILT) has successfully completed a $2.2 million placement, raising $2.1 million from institutional and sophisticated investors at $0.21 per share. The funds will be used to accelerate drilling activities at the Antimony Reward and Orient Projects in Northern Queensland. The company's Board of Directors has also committed to subscribe for $75,000 of shares at the issue price of $0.21 per share, subject to shareholder approval. The Placement was well supported by both new and existing shareholders, reflecting confidence in the management team and the Company's projects. With the completion of this Placement, Iltani Resources is well positioned to advance its exploration activities and unlock the potential of its projects.