Sipa Resources: Raises $1m for exploration

Sipa Resources Raises $1m for exploration

• Sipa Resources (SRI) receives binding commitments to raise roughly $1 million through a share placement
• The company will issue 23.1 million shares at 4.5 cents to professional and sophisticated investors, as well as company directors
• SipaResources will use the money for drilling and other exploration work to target lithium, base metals and gold across various projects
• The company also welcomed support from existing shareholders and directors
• The company shares end the day 7.55 per cent in the red at 4.9 cents each