American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Successful Completion of A$12 Million Share Placement

by admin March 28, 2024
March 28, 2024
Successful Completion of A$12 Million Share Placement

Brightstar Resources Limited (Brightstar or the Company) (ASX: BTR) is pleased to report that it has received firm commitments for a placement of new fully paid ordinary shares in the Company (Shares) at A$0.014 per Share to raise A$12 million (before costs) (Placement).

Highlights:

Firm commitments received to raise A$12 million through a strongly supported two-tranche PlacementPlacement completed to leading domestic and international institutional and sophisticated investors, including a significant contribution from existing shareholders of Brightstar and LindenPost completion of the Placement, Brightstar to emerge with over $20 million in cash and no debt to fund mine life extension at the operating Second Fortune mine, fast-track development of the Jasper Hills, Menzies and Laverton Gold Projects

Along with existing cash, proceeds from the Selkirk mining operations and the Placement, Brightstar will emerge with over $20 million cash (no debt) which will underpin the next phase of activities at Brightstar’s Menzies and Laverton Gold Projects and, subject to successful completion of its proposed takeover of unlisted gold producer Linden Gold Alliance Limited (Linden), Linden’s Second Fortune and development- ready Jasper Hills project. Refer to Brightstar’s announcements of 25 March 2024 for more information regarding Brightstar’s proposed acquisition of Linden.

The Placement had strong cornerstone support including a strategic $2 million investment from St Barbara Ltd who is expected to emerge as Brightstar’s largest shareholder with a shareholding of approximately 13% post completion of the Placement and the Linden takeover. Brightstar’s existing largest institutional shareholder, Collins St Asset Management, subscribed for approximately $2.3 million in the Placement, while well-regarded mining investment house Lion Selection Group (ASX:LSX) participated for $2 million in the Placement.

The Placement will be completed in the following two tranches:

298,676,401 Shares within the Company’s existing placement capacity pursuant to Listing Rule 7.1 and 237,037,885 Shares within the Company’s existing placement capacity pursuant to Listing Rule 7.1A, raising a total of $7.5 million; and321,428,571 Shares, subject to shareholder approval in accordance with Listing Rule 7.1, raising $4.5 million.

The Placement is not conditional on the success of the takeover bid for Linden.

Click here for the full ASX Release

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
Cyber Insurance Industry to Experience Above Trend Sector Growth
next post
Goldman Sachs Bullish on Commodities, Shares 2024 Price Calls for Gold and Copper

Related Posts

Iron Mountain stock price forms a bullish pattern...

February 12, 2025

3 stocks yielding 8% to buy for dividend...

October 18, 2024

Aerodrome Finance analysis: crypto pro sees AERO token...

November 7, 2024

4 best crypto to invest in ahead of...

January 29, 2025

DJT stock price forecast: can Trump save this...

January 21, 2025

Litecoin price forecast: here’s why LTC could surge...

November 24, 2024

NorthStar Gaming Announces Extension of Strategic Marketing Agreement...

April 27, 2024

Salesforce stock price forecast: risky pattern emerges ahead...

February 23, 2025

Top 3 Canadian Nickel Stocks of 2024

April 11, 2024

Polkadot price prediction: here’s why DOT may surge...

February 20, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,022)
    • Investing (2,459)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved