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ARCHER MATERIALS LIMITED — Capital/Financing Update 2019
May 20, 2019
64478_rns_2019-05-20_10debeba-3768-4143-8835-ee36dd944f0a.pdf
Capital/Financing Update
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ACN: 123 993 233
21 May 2019
ASX Announcement (ASX: AXE )
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Archer raises $300,000 to fund growth opportunities
Archer Exploration Limited ( Archer or the Company ) is pleased to announce that it has successfully completed a share placement, raising $300,000, before costs, to fund ongoing investment in its growth opportunities.
The share placement of 4,285,714 new shares, at $0.070 per share, was made to sophisticated and professional investors introduced by Sequoia Wealth Management.
Commenting on the share placement, Archer Chairman, Mr Greg English, said , “We are delighted with the interest shown by investors in the Company and its exciting growth direction during this placement.
“The placement together with the sale of $3.35 million of non-core assets over the past 12 months leaves Archer well positioned to continue delivering on its strategy of enhancing shareholder value through the development of its advanced materials technology and, where prudent, further investment in our mineral assets to support realisation of their value.”
The new shares to be issued under the placement will rank equally with existing AXE fully paid ordinary shares on issue. The placement does not require shareholder approval as it was conducted in accordance with ASX Listing Rule 7.1.
About Archer
Archer provides shareholders exposure to innovative technologies and the advanced materials that underpin them. The Company has a focused strategy targeting globally relevant advanced materials markets of human health, reliable energy, and quantum technology.
| General EnquiriesMr Greg EnglishExecutive ChairmanDr Mohammad ChoucairChief Executive OfficerTel: +61 8 8272 3288 | For more information about Archer’s activities,please visit our:Website:https://archerx.com.au/Twitter:https://twitter.com/archerxau?lang=enYouTube:https://bit.ly/2UKBBmGMedium:https://medium.com/@ArcherXSign up to our Newsletter:http://eepurl.com/dKosXI |
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