Public unlisted Australian company Neu Horizon Uranium has completed a pre-IPO capital raising with strong investor demand resulting in an oversubscription.
In light of this interest, Neu Horizon elected to expand the raise and accept $2 million in total, with new shares issued at $0.10 per share.
Canaccord Genuity (Australia) has been mandated to assist in the planned initial public offering (IPO) with the formal listing process expected to begin in late 2025.
Neu Horizon Uranium is to list on the Australian Securities Exchange (ASX) in H1 2026.
The pre-IPO capital raising follows a recent investment by Aura Energy (ASX:AEE), which committed $100,000 into the company at $0.10 per share under a collaboration agreement between the two companies.
Aura Energy holds the right to participate for up to $250,000 in the planned IPO.
Neu Horizon is focused on discovering and developing tier one uranium deposits in premier exploration jurisdictions.
As part of this strategy the company has entered into a definitive option agreement with Fortune Bay Corp (TSX-V:FOR) under which it has the option to acquire an 80% interest in The Woods Uranium Projects, on the northern margin of the Athabasca Basin, Saskatchewan.
Through this new partnership with Fortune Bay, Neu Horizon has access to a land package with over 100,000ha of exploration ground covering three projects in Sweden and five projects in Canada.
Write to Adam Orlando at Mining.com.au
Images: Fortune Bay
