VRX Silica (ASX:VRX) has received binding commitments from Nebari Natural Resources Credit Fund II and Delphi Group to raise a total of $4.5 million in two strategic equity placements.
Nebari has committed to subscribing for $3.5 million, while Delphi Group has committed for the remaining $1 million. Delphi Group is affiliated with Deutsche Balaton and Sparta Invest, and is an existing major shareholder in VRX Silica.
Under the placement, Nebari will subscribe for 102.94 million shares at $0.034 each, alongside 51.47 million free-attaching options exercisable at $0.10, expiring on 30 June 2028.
In addition, Sparta Invest will subscribe for 29.41 million shares and 14.71 million options under the same terms.
Following the issuance of shares and options, Nebari will have a 10.46% stake in VRX Silica, while Delphi Group’s interest will sit at 13.66% on an undiluted basis.
The placement is expected to settle on 17 July 2026.
VRX Silica CEO Tony Swiericzuk says the company is pleased to have secured support from “two leading institutions with strategic investments that represent a significant vote of confidence in both the Arrowsmith North Silica Sand Project and the company’s financing and development strategy”.
“I am delighted to welcome Nebari, an experienced and strategic resources financier, as a shareholder of VRX and appreciate the additional support from our major shareholder, Delphi,” Swiericzuk says.
“Having these major institutions on our register is a significant step forward for VRX, consistent with our planned strategy to introduce more institutions to our register as we plan for the transformation to developer-producer.
“VRX looks forward to working together with the Nebari and Delphi teams as we progress to the construction phase of our Arrowsmith North Silica Sand Project and accelerate development of our world-class Muchea Silica Sand Project.”
Nebari Senior Managing Director Roderik van Losenoord says the fund looks forward to building a valuable partnership with VRX as the company brings Arrowsmith North into production.
VRX Silica is a pure-play silica sand developer focused on its wholly owned Arrowsmith, Muchea, and Boyatup projects in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: VRX Silica
