iTech Minerals Raises $4.5m for drilling programs
- iTech Minerals (ITM) receives firm commitments to raise $4.5 million via a share placement
- The money will be raised via the issue of 18 million new fully-paid ordinary shares to institutional and sophisticated investors at 25 cents
- iTech will also be undertaking a share purchase plan (SPP) to raise up to $2 million with eligible shareholders able to subscribe for up to $30,000 worth of shares
- The money from the placement and SPP will be used for exploration, resource drilling and metallurgy at iTech’s Sugarloaf, Lacroma Caralue Bluff and Kaolin prospects
- Shares in iTech are down 10.8 per cent and trading at 29 cents at 1:54 pm AEDT
