Nelson Resources (ASX:NES) Raises $2.25 Million

Nelson Resources Limited (ASX:NES) has successfully completed a two-tranche placement, raising $2.25 million before costs. The placement was well supported by new and existing professional and sophisticated investors, including board members, for $0.5 million, subject to shareholder approval. The proceeds will be utilized for advancing the Company's Western Australian gold and base metal projects, working capital, and identifying new complimentary project opportunities.

Executive Commentary

The successful completion of the two-tranche placement is a significant milestone for Nelson Resources. The strong support from both new and existing investors, including board members, reflects confidence in our projects and the potential for growth. The funds raised will enable us to progress our Western Australian gold and base metal projects, as well as explore new opportunities. We are grateful for the support received and look forward to delivering value through these initiatives.

Summary

Nelson Resources Limited (ASX:NES) has successfully raised $2.25 million through a two-tranche placement, with strong support from professional and sophisticated investors, including board members. The funds will be directed towards advancing the Company's Western Australian gold and base metal projects, working capital, and identifying new complimentary project opportunities. The placement price of $0.0015 per new share represents a discount and the issuance of new shares and attaching options is subject to shareholder approval at the upcoming Annual General Meeting. Phoenix Global Investments acted as Lead Manager to the Placement, reflecting the Company's commitment to prudent financial management. The successful completion of this placement positions Nelson Resources to pursue its corporate strategy and drive growth in its project portfolio.