Aug 24 (Reuters) - Poseidon Nickel Ltd POS.AX :
* SAYS PLACEMENT AND FULLY UNDERWRITTEN RENOUNCEABLE ENTITLEMENT OFFER AT $0.05 PER SHARE TO RAISE ABOUT $74.6 MILLION
* FUNDS RAISED WILL BE USED TO RESTART SILVER SWAN AND BLACK SWAN MINES AND BRING BLACK SWAN PROCESSING PLANT BACK INTO PRODUCTION
* EACH DIRECTOR OF CO AGREED TO TAKE UP A SIGNIFICANT PORTION OF INDIVIDUAL ENTITLEMENTS EQUATING TO ABOUT $2.2 MILLION OF ENTITLEMENT OFFER