NeuRizer Ltd's successful completion of private share placement

NeuRizer Ltd (ASX: $NRZ) has successfully completed a private share placement, issuing 799,222,115 new fully paid ordinary shares at an issue price of A$0.002 per share. The placement raised approximately $1.6m before costs and involved a range of sophisticated, professional, and institutional investors.

Executive Commentary on Private Share Placement

The funds raised from the private share placement will be utilized for the general working capital of the Company, facilitating progress on the NeuRizer Urea Project. Additionally, the Board confirms the Company's solvency and the increase in total available funding as per the Appendix 5B published on 29 July 2024. The issuance of new shares within the existing capacity under ASX listing Rule 7.1 and the subject to shareholder approval demonstrates the Company's strategic approach to funding and expansion.

Summary of NeuRizer's Private Share Placement

NeuRizer Ltd (ASX: $NRZ) has successfully completed a private share placement, raising approximately $1.6m before costs. The funds will be allocated towards the general working capital of the Company, supporting the progress on the NeuRizer Urea Project. The Board's confirmation of solvency and the strategic approach to funding and expansion reflect the Company's commitment to its corporate strategy. The increase in total available funding as per the Appendix 5B published on 29 July 2024 indicates a positive outlook for NeuRizer's ongoing initiatives.