Investigator Resources (ASX:IVR) has closed its share purchase plan oversubscribed, yesterday (15 January 2024) raising about $1.72 million.
Albeit fully underwritten for $1 million, Investigator says substantial shareholder support saw demand far in excess of the underwritten amount and consequently there is no shortfall.
The SPP was underwritten by Ord Minnett and Canaccord Genuity (Australia), as announced on 19 December 2023.
Managing Director Andrew McIlwain says the intent of the SPP is to provide the opportunity for shareholders to participate on the same terms as the recent placement.
“Together with the $4 million raised last month, these SPP funds ensure that Investigator is well placed to complete the Paris Silver Project’s Definitive Feasibility Study (DFS), further exploration of the Peterlumbo tenement that hosts Paris and exploration activities across the Company’s 100% owned regional tenements.”
Write to Adam Orlando at Mining.com.au
Images: Investigator
