Perth -
Enterprise Uranium Ltd. (“Enterprise” or “the Company”)(ASX:ENU) is pleased to advise that it has successfully raised a further $141,010 via a share placement of 2,390,006 fully paid ordinary shares at 5.9 cents per share (“the Placement”) to professional and sophisticated investors as defined under Section 708 of the Corporations Act (2001). The issue price of 5.9 cents per share represents a 22% discount to the 15 day traded VWAP.
The funds, which are additional to the $1 million placement announced on 24 May 2016, will be used to initiate gold exploration at the Company’s Sandstone Gold Project in Western Australia and for working capital.
The placement was undertaken using the Company’s 15% and 10% placement capacity in accordance with ASX Listing Rules 7.1 and 7.1.A. The Placement shares will rank pari passu with the Company’s existing fully paid ordinary shares.
Settlement is expected to occur on or around 30 May 2016, with issue and quotation of the Placement shares on the ASX anticipated within one (1) business day of settlement. Following issue of the Placement shares, Enterprise will have 96,695,810 ordinary shares on issue.
About Enterprise Uranium Ltd.:
Enterprise Uranium Ltd. (ASX:ENU) is based in Western Australia and focused solely on uranium exploration in Australia. Our objective is to discover and develop one or more "Tier 1" or world class uranium resources in order to meet the rising worldwide demand for uranium to meet electricity generation requirements.
Contact:
Dermot Ryan, Executive Director
Enterprise Uranium Ltd.
T: +61-8-9381-2808
E: info@enterpriseuranium.com.au
