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Black Cat Syndicate: Raises $20M via share placement

May 4, 2021

Black Cat Syndicate (BC8) has received strong commitments to raise $20 million via a share placement
The funds raised set to support exploration, mill equipment purchases, feasibility studies and working capital
The placement supports the company’s low-capex, rapid start-up strategy for the Kal East Gold Project, which returned high-grade results last month
Sophisticated and professional investors have also committed to the issue of approximately 27.5 million shares at 67 cents each
Directors and their related parties are seeking to participate in the placement for an amount of $1.41 million, subject to shareholder approval
Shares resumed trade this morning, 4.5 per cent lower at 74 cents each