Bryah Resources: Raises $1.4m via placement

August 9, 2022

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Bryah Resources: Raises $1.4m via placement

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Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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