Odessa Minerals $1.1M Placement Announcement

Odessa Minerals Limited (ASX:ODE) has successfully secured firm commitments from professional and sophisticated investors for a Placement to raise $1,112,500. The Placement, which was oversubscribed, will be used to advance the exploration and drilling activities at the Lyndon Uranium project, specifically targeting the Relief Well and Baltic Bore areas.

Chairman's Commentary on Placement

Zane Lewis, Chairman of Odessa, expressed his satisfaction with the firm commitments received for the $1.1M Placement. He emphasized the support from long-term investors who share Odessa's vision and highlighted that the funding will ensure the company is well-equipped for the upcoming exploration and drilling program at Lyndon.

Summary of Odessa Minerals $1.1M Placement

Odessa Minerals (ASX:ODE) has successfully completed an oversubscribed Placement, raising $1.1M from professional and sophisticated investors. The funds will be utilized to continue exploration and drilling activities at the Lyndon Uranium project, with a specific focus on the Relief Well and Baltic Bore targets. The issue price of A$0.002 per New Share represents a discount to the last closing price and the 15-day volume weighted average price. Chairman Zane Lewis expressed his satisfaction with the commitments received, highlighting the shared vision with long-term investors and the positive impact the funding will have on Odessa's upcoming exploration and drilling program at Lyndon. The Placement signifies a significant step for Odessa Minerals as it aims to advance its projects in the highly prospective Gascoyne Region of Western Australia.