Venus Metals Corporation private placement announcement

Venus Metals Corporation Limited (ASX:VMC) has received an application from its major shareholder, QGold Pty Ltd, for a private placement of 6,400,000 fully paid ordinary shares at a price of $0.065 (6.5c) per share, aiming to raise $416,000. The funds raised will be utilized for additional working capital and exploration expenses. The placement, arranged directly by the company, comes with no broker fees and represents a premium to the last closing price of $0.061 (6.1c) on 26 September 2024.

Executive commentary on private placement

Mr. Wallin, a successful and experienced mining industry professional, has applied for the private placement through QGold Pty Ltd, an entity controlled by him. The company appreciates Mr. Wallin's continued support and looks forward to utilizing the raised funds for furthering its working capital and exploration activities.

Summary of Venus Metals Corporation private placement announcement

Venus Metals Corporation Limited (ASX:VMC) has received a private placement application from its major shareholder, QGold Pty Ltd, to issue 6,400,000 fully paid ordinary shares at a price of $0.065 (6.5c) per share, raising $416,000. The placement, arranged directly by the company, comes with no broker fees and represents a premium to the last closing price of $0.061 (6.1c) on 26 September 2024. The funds raised will be used for additional working capital and exploration expenses. With Mr. Wallin's substantial shareholding expected to increase to approximately 22.34%, the company acknowledges and values his continued support. The successful completion of the private placement will enable Venus Metals Corporation to strengthen its financial position and pursue its exploration endeavors.