Elevate Uranium Ltd (ASX: EL8) has announced that its securities will be placed in a trading halt starting on Friday, 18 October 2024. This trading halt is in line with the company's request under ASX Listing Rule 17.1 to undertake a capital raising. The securities will remain suspended until the earlier of either the release of an official capital raising announcement or the commencement of regular trading on Tuesday, 22 October 2024.
Reason Behind the Trading Halt
The trading halt has been put in place to provide the company with the necessary time to finalize the capital raising process. This step is a part of Elevate Uranium's broader strategy to secure funding for its ongoing exploration and development initiatives, enhancing its future growth potential in the uranium market.
Duration of the Halt
The halt is expected to last until Tuesday, 22 October 2024, or until Elevate Uranium makes an official announcement, whichever occurs first. Investors should stay tuned for updates as the company progresses through this important phase.
Elevate Uranium's Strategic Move
The decision to pursue a capital raising reflects Elevate Uranium's focus on strengthening its financial position, which will allow the company to advance its portfolio of uranium projects. The Board of Directors has assured that this move is in line with their long-term vision for the company and its shareholders.
For the latest updates on Elevate Uranium Ltd and further developments, investors can refer to the official ASX page or contact the company’s advisors.
