EV Resources: Secures $25m investment to bolster growth plans

EV Resources Secures $25m investment to bolster growth plans

• EV Resources (EVR) secures $25 million investment from Sapphire Global Energy Fund via an equity placement to support growth plans
• The funds will be used to acquire projects and also develop the company’s portfolio, including drilling campaigns and funding towards JORC-compliant mineral resource estimates of the projects
• The investment comes in the form of a $25 million equity drawdown facility, with a term for 60 months starting on March 1, 2023, unless an earlier date is agreed on
• EVR Executive Director Navin Sidhu said the investment highlights Sapphire’s buy-in on the growth potential of the company
• EVR shares are up 46.7 per cent, trading at 2.2 cents at 12:34 pm AEDT