Raiden Resources: Completes $2.5m raise, prepares for drilling

Raiden Resources Completes $2.5m raise, prepares for drilling

• Raiden Resources (RDN) completes $2.5 million placement which will support an upcoming drilling program at the Arrow North project in Western Australia
• The placement involves the issue of 125 million shares priced at 2 cents, which marks a 22 per cent discount to the 15-day volume-weighted average price
• Raiden has contracted Orlando Drilling to undertake 5000 metres of drilling at Arrow North which is expected to begin in early December
• The company has also finalised the acquisition of the Kalabak and Zlatusha licenses in Bulgaria, which means the consolidation of its portfolio is now completed
• Company shares are up 4.35 per cent to trade at 2.4 cents