Lykos Metals capital raise announcement

Lykos Metals Limited (ASX: $LYK) has confirmed the successful capital raise of $2.2 million through firm commitments for a placement and entitlement offer. The placement, managed by CPS Capital, received strong support from existing shareholders. The company also launched a 1-for-3 pro-rata non-renounceable entitlement offer to raise additional funds. The raised capital will be allocated towards exploration, development of existing projects, evaluation of new opportunities, and working capital.

Executive commentary on capital raise

The successful capital raise through firm commitments for the placement and entitlement offer reflects the confidence and support of our existing shareholders. We are pleased to have CPS Capital managing the placement and acting as Corporate Advisors, demonstrating their expertise and commitment to our company. The funds raised will enable us to further our exploration and development efforts, evaluate new opportunities, and strengthen our working capital position, positioning us for future growth and success.

Summary of capital raise and outlook

Lykos Metals Limited (ASX: $LYK) has confirmed a capital raise of $2.2 million through firm commitments for a placement and entitlement offer. The successful raise, supported by existing shareholders and managed by CPS Capital, will provide the company with the necessary funds to drive its exploration, development, and evaluation activities. The capital will also bolster the company's working capital, positioning it for future opportunities and growth. The company's ambitions and goals for utilizing the raised funds include advancing existing projects, exploring new opportunities, and strengthening its overall position in the market. The outlook for Lykos Metals appears positive as it moves forward with its corporate strategy and capital utilization plans.