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Shree Minerals: Receives commitments for $1.2M placement

August 6, 2020

Junior explorer Shree Minerals (SHH) has received firm commitments for a $1.2 million placement to professional and sophisticated investors
The company will use the money to progress exploration across its portfolio
All shares will offered at 0.6 cents, representing a 7.1 per cent discount to the 10-day volume-weighted average price
The company will also progress re-permitting of Nelson Bay River iron project to potentially recommission the extant mine at the site
It’s expected a shareholder meeting will held around the end of September to approve the last portion of the placement
Shree Minerals closed Thursday’s session 33.3 per cent higher at 0.8 cents per share