Surefire Resources NL (ASX:SRN) has successfully completed a placement to sophisticated and professional investors, raising $2,000,000 before costs.
The company has resolved to issue 181,818,186 fully paid ordinary shares as detailed in the Appendix 2A lodged with the ASX today.
Funds for developing projects
Surefire is keen to channel the proceeds of the placement into the development of the Victory Bore and the High Purity Alumina Projects, continued exploration and development of the company’s other 100% owned West Australian projects, and for ongoing working capital needs.
The board may also consider allocating funds for the assessment and potential acquisition of further projects, depending on circumstances.
The placement shares were issued without shareholder approval, in accordance with the company’s existing placement capacity under the listing rules of the ASX.
Each placement share comes with one free-attaching option, exercisable at A$0.019 each, and with an expiration date of November 30, 2026. The offer and issue of these placement options are detailed in a prospectus lodged with ASX and ASIC on November 3, 2023.
About Surefire Resources
Surefire Resources is an Australian mineral exploration company headquartered in Perth, Western Australia.
The company holds mineral exploration licences covering various resources in WA, with a focus on advancing its Victory Bore vanadium critical and battery minerals project, currently in the pre-feasibility stage.
Additionally, the company's high-grade iron project and gold project have the potential to create substantial value for the company.