Impact Minerals Raises $5 Million to advance African Uranium Exploration Programme
The Directors of Impact Minerals Limited (Impact) are pleased to advise that the Company has resolved to raise $5 million through a non-underwritten placement of 24 million ordinary shares at an issue price of 21 cents per share. Hartleys Limited is Broker to the Offer.
The funds raised from the placement will be applied mainly to accelerate exploration on Impact's large Botswana uranium project where drilling is due to commence this month to test several large uranium targets at the Lekobolo Prospect.
Impact’s Prospecting Licences in Botswana cover 350 km of the strike extensions of rocks that host many significant uranium deposits throughout southern Africa, including Kayelekera in
Malawi and Letlhakane in Botswana. Impact’s targets in Botswana have the potential to host large deposits of uranium mineralisation.
Commenting on the success of the placement, Dr Mike Jones, Managing Director of Impact stated “We are extremely pleased with the very strong response to the placement and we are looking forward to being able to use these funds to more aggressively explore our large and prospective portfolio of uranium, gold and base metal projects.”
“Impact’s largest shareholder, China Growth Minerals Limited, is currently finalising its next round of private financing and as such will not participate in this placement. However, we are delighted by the ongoing support of China Growth which has reaffirmed to us its position as a long-term shareholder that strongly supports Impact’s business strategy.”
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