Sunshine Metals Ltd SPP Closes with Overwhelming Support
Key points
- SPP closes with $7,695,000 in applications
- 284,999,876 new shares issued
- Funds to support Mt Moss and Liontown projects
Full summary
Sunshine Metals Ltd is pleased to announce the successful closure of its Share Purchase Plan (SPP) with total applications reaching $7,695,000, surpassing the initial $3 million target. The company will issue 284,999,876 new shares, providing the necessary capital to advance its Mt Moss gold processing facility construction and the Liontown Mine start-up. The Board has decided not to scale back the participation despite the oversubscription. The proceeds, combined with a recent $19 million Share Placement, will fund the acquisition of Mt Moss and support exploration and resource development activities. The company also highlights that all eligible Non-Executive Directors have fully utilized their allotment, demonstrating strong shareholder alignment.
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