Lowell Resources Fund Announces Placement and SPP
Key points
- Placement raised A$11.9m exceeding initial target
- SPP allows unitholders to subscribe up to A$30,000
- Funds will be applied to existing investment strategy
Full summary
Lowell Resources Fund (ASX:LRT) has announced a successful placement raising approximately A$11.9 million, exceeding the initial target of A$10 million. The placement, conducted by Taylor Collison Limited and Canaccord Genuity (Australia) Limited, was priced at A$2.01 per unit. The fund is also launching a Security Purchase Plan (SPP) allowing existing unitholders to subscribe for up to A$30,000 in new units at the same price. The funds raised will be applied to the fund's existing investment strategy, which has a track record of over 20 years in managing a portfolio of junior mining and energy investments.
Guidance
Placement raised A$11.9m, exceeding initial target
Outlook
Funds will be applied to existing investment strategy, focusing on junior mining and energy investments
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