Zeus Resources Ltd. (AU:ZEU) has released an update.
Zeus Resources Ltd. has successfully secured $551,137 through a share placement to sophisticated and wholesale investors, priced at $0.008 per share, with added incentives of free-attaching options exercisable at $0.02 in three years. The funds will be directed towards the company’s project development, new project evaluation, and general working capital, with an aim to strengthen its financial position and support its trading reinstatement on the ASX. The placement is subject to shareholder approval and successful reinstatement of the company’s shares on the ASX, with Zeus anticipating a pro forma cash balance of approximately $1.9m post-placement.
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