Felix Gold (ASX:FXG) has received firm commitments to raise $17 million under a two-tranche placement, which it says has been “strongly supported” by offshore and Australian institutional investors.
Funds raised will be used to progress development and exploration activities across Felix Gold’s projects, including drilling, exploration, and permitting.
Petra Capital acted as sole lead manager and sole bookrunner to the equity raise. Reach Markets, “a long-term supporter of Felix”, also played a role in supporting the raise.
The company will issue, subject to shareholder approval, 13 million broker options with an exercise price of $0.2325 and an expiry date of three years from issue and also pay a 6% commission on funds raised.
Just over 109.67 million shares will be issued under the placement in two tranches. Some $12.7 million will be raised under the company’s remaining placement capacity (tranche one).
Settlement of tranche one is expected to occur on 8 May.
In addition, $4.3 million will be issued subject to shareholder approval at a general meeting held on or around 19 June 2025. The offer price of $0.155 represents a discount of 8.8% to the last traded price and a discount of 9.0% to the 15-day trading volume weighted average trading price to 30 April 2025.
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Images: Felix Gold
