GTI Energy (ASX:GTR) is seeking to rebrand as American Uranium, continuing to trade on the Australian Securities Exchange (ASX) under the new ticker code ‘AMU’.
Shareholders will vote on the name change in an upcoming general meeting, which will also discuss necessary approvals to complete its recent capital raise.
The second tranche of a greater $4.5 million placement intends to raise a total of $1.97 million, including a $1.48 million cornerstone investment from Snow Lake Energy (NASDAQ:LITM), seeking shareholder approval.
The meeting also intends to approve directors for a one for 40 share consolidation, while also fixing previous share issues.
As previously reported by Mining.com.au, the placement delegated shares at an issue price of $0.0035 to fund an upcoming drilling campaign at its Lo Herma Project.
The Lo Herma Project is located in the Powder River Basin of Wyoming, containing a resource of 8.57 million pounds of uranium concentrate, including 2.78 million pounds indicated and 5.79 million pounds inferred.
GTI Energy is focused on generating clean fuel to counteract climate change by reducing global greenhouse gas emissions.
Write to Maddison Elliott at Mining.com.au
Images: GTI Energy
