Empire Resources: Set to raises $1.3M for exploration
- Exploration company Empire Resources (ERL) has received commitments to undertake a $1.3 million placement
- Approximately 108M new fully-paid ordinary shares will issued to sophisticated and professional investors at a price of 1.2 cents each
- This price represents a 14 per cent discount to Empire’s last closing price of 1.4 cents on July 31
- Then the shares expected to issued on or around August 7
- Empire will also use the money for exploration drilling at its Yuinmery and Penny’s Gold Projects in Western Australia, and general working capital
- Empire has ended the 7.14 per cent in the green with shares trading for 1.5 cents each
