ASX-listed explorer SensOre (ASX:S3N) is reminding shareholders that its share purchase plan (SPP) to raise $1 million for its technology and exploration services businesses is closing on 7 June 2023.
The SPP was announced on 11 May 2023 and follows a placement that received binding commitments to raise $1 million from new and existing shareholders.
Under the SPP, eligible shareholders will be able to secure up to $30,000 worth of shares at $0.25 per share, which is the same price as the placement. This represents a 16.7% discount to the closing price of SensOre shares of $0.30 on the company’s last trading day prior to 8 May 2023 and a 27.4% discount to its 10-day volume weighted average price (VWAP) up to this date.
This represents a 16.7% discount to the closing price of SensOre shares of $0.30 on the company’s last trading day prior to 8 May 2023
All up, SensOre will issue 4 million new shares and 2 million options under the SPP and placement. Of these shares, 1.9 million will be issued to SensOre’s directors, subject to the company obtaining shareholder approval in a general meeting intended to be held in late June 2023.
All up, SensOre will issue 4 million new shares and 2 million options under the SPP and placement
The placement and SPP also include a 1 for 2 free attaching option exercisable at $0.375 and expiring 3 years after their date of issue. Bell Potter Securities acted as lead manager for the placement.
The company reports shares under the SPP and placement will be issued on 13 June 2023. These shares will rank equally with existing SensOre shares.
SensOre will be attending Mines and Money Connect Melbourne on 14-15 June 2023.
SensOre is an ASX-listed company with a goal to become the top-performing minerals-targeting company in the world through the deployment of artificial intelligence (AI) and machine learning technologies — specifically, its Discriminant Predictive Targeting (DPT) tech.
The company collects all available geological information in a terrane and places it in a multidimensional hypercube or data cube that allows the DPT predictive analytics to accurately predict known endowment and generate targets for further discovery.
SensOre has built a tenement portfolio of ‘highly prospective’, wholly owned and joint ventured (JV) technology metals tenement packages in Western Australia. The company anticipates that new targets will be identified and acquired in Australia and internationally by using AI and machine learning technology.
Mining.com.au is official media partner of Mines and Money Connect Melbourne on 14-15 June 2023.
Write to Harry Mulholland at Mining.com.au
Images: SensOre Ltd
