First Au: Raise up to $747K through share placement
- First Au (FAU) has received commitments to raise up to $747,000 through a share placement to existing and new sophisticated and professional investors
- Then the placement is part of a greater capital initiative to raise up to $1.027 million
- Under the placement, First Au will issue 74,700,000 fully paid ordinary shares at one cent per share
- Shareholders can apply for up to $30,000 each of new fully paid ordinary shares in the company at one cent each
- Additionally, First will aim to raise up to $280,000 through a share purchase plan to eligible shareholders
- Company shares have dipped 7.69 per cent in the red to trade for 1.2 cents each
