- Castle Minerals (CDT) is aiming to raise up to $2 million through a placement and share purchase plan (SPP)
- Castle has received firm commitments from professional and sophisticated investors to raise $1 million through a share placement
- Then the funds will raised via the issue of 100 million fully-paid shares priced at one cent each
- This price represents a 14.85 per cent discount to the five-day volume-weighted average price
- Castle will also use the money to progress exploration at its Western Australian gold projects and provide flexibility for new opportunities
- Company shares are down 8.33 per cent at market close and are trading for 1.1 cents each
