Venus Metals: Raises $2.16m for WA exploration

Venus Metals Raises $2.16m for WA exploration

• Venus Metals (VMC) receives firm commitments to raise $2.16 million via a share placement
• The funds will be raised through the issue of 18 million fully-paid ordinary shares to sophisticated and professional investors at 12 cents each
• Participants will also receive one unlisted option for every two shares issued, exercisable at 20 cents with expiry on November 30, 2025
• Venus will use the money to fund the exploration and progression of its rare earth–critical minerals projects at Mangaroon in Western Australia
• Shares in Venus are down 3.33 per cent and trading at 14.5 cents at 3:20 pm AEDT