Resources & Energy Group Limited (ASX: REZ) (REZ or the Company) is pleased to announce that it has received in cash $450,000 from professional and sophisticated investors and issued 22,500,000 ordinary shares.
Further, as announced on 6 August 2024, 22,500,000 options will be issued to holders on a 1:1 basis with an exercise price of 4 cents each (not 1:4 as previously shown in the Appendix 3B released on 6 August 2024) A further $50,000 will be received from a director , Mr J Daniel Moore, and 2,500,000 shares and 2,500,000 attaching options on the same terms as above will be issued upon approval by shareholders at a meeting yet to be announced. As previously announced (ASX Announcement 6 August 2024), the proceeds from the placement will be used to conduct a strategic drilling program for the Goodenough Gold prospect.
Contact:
J. Daniel Moore
Tel: +61 2 9227 8900
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