Middle Island Resources (ASX:MDI) Share Placement Announcement

Middle Island Resources Limited (ASX:MDI) has successfully completed a share placement, raising $750K through the issuance of 50M fully paid ordinary shares at 1.5 cents each. The placement was conducted within the Company's existing ASX Listing Rule 7.1 and 7.1A placement capacities. Additionally, the lead broker will be issued with 10M unlisted options once shareholder approval has been obtained at the next meeting of shareholders.

Executive Commentary on Share Placement

The net funds raised from the share placement will enable us to identify and select a more advanced project to complement our major copper-gold project in the NT. Furthermore, the funds will support further exploration on our existing projects and provide general working capital. We are confident that this capital raise will strengthen our position and drive the realization of our strategic goals.

Summary of Middle Island Resources (ASX:MDI) Share Placement

Middle Island Resources Limited (ASX:MDI) has successfully raised $750K through a share placement, with an expectation of raising a further ~$69K. The funds will be utilized to identify and select a more advanced project to complement the Company's major copper-gold project in the NT, as well as to support further exploration on existing projects and provide general working capital. The New Shares are expected to be issued on or about 8 October and will rank equally with the existing fully paid ordinary shares currently quoted asMDI.