Bryah Resources: Raises $1.4m via placement

Bryah Resources Raises $1.4m via placement

• Bryah Resources (BYH) receives firm commitments from sophisticated and professional investors to raise $1.43 million via a placement
• The company will issue around 53 million new shares at an issue price of 2.7 cents, with allotment set to be completed on August 12
• Funds will go towards completing the Olympus EIS program which includes downhole EM, hyperspectral and geochemical analysis and diamond tails on the Windalah deeps project
• As part of being lead manager of the placement, Spark Plus Australia will receive two million unlisted options, exercisable at 5.4 cents, expiring August 12, 2025
• Shares in BryahResources are down 6.45 per cent, trading at 2.9 cents at market close