Business
FAU PROVIDES UPDATE ON TWO - TRANCHE PRIVATE PLACEMENT
FAU PROVIDES UPDATE ON TWO - TRANCHE PRIVATE
About this update from First Au Ltd.
First Au Limited ('First AU', 'FAU' or 'the Company') (ASX:FAU) refers to its ASX release dated 18 June 20251 with respect to a two-tranche Private Placement to raise $1.5 million (excluding costs) and provides the following update. Tranche One: Tranche One of the two-tranche Private Placement is now complete, and the company has issued 4,298,000 new fully paid ordinary shares in FAU at A$0.0035 per share. The new FAU shares have been issued out of the Company existing capacity under ASX Listing Rule 7.1. (The Company has no capacity available under Listing Rule 7.1A). Tranche Two: The remaining balance of 424,273,429 new FAU ordinary shares relating to Tranche Two will be issued subject to necessary shareholders' approval at the Company's AGM to be held on or before 31 July 20252 . The Placement will also include participation by Mr Lei Shi , Non-Executive Director of FAU, who will contribute $0.12 million into the Placement under Tranche Two, subject to shareholders approval at the Company's AGM. Under ASX Listing Rule 10.11 the Company, following shareholder approval, can issue Mr Lei 34,285,714 new FAU ordinary shares Contact: Daniel Raihani Chairman Email: [email protected] Tel: +61 410 777 777 ABOUT FIRST AU LIMITED FAU is an advanced gold and base metals exploration company listed on the Australian Securities Exchange (ASX:FAU) and is pursuing exploration programs at its Victorian Goldfields Project in East Gippsland and its 100% owned Gimlet Gold project near Kalgoorlie and is in the process of acquiring the highly potential Nimba Gold Project located in Liberia . (C) 2025 Electronic News Publishing, source ENP Newswire