Boab Metals Launches $5 Million Capital Raise

Boab Metals Ltd (AU:BML) has released an update.

Boab Metals Limited is set to raise approximately $5 million through a combination of a $3.3 million entitlement offer and a $1.7 million placement to sophisticated and professional investors. The entitlement offer allows existing shareholders to purchase one new share at $0.10 each for every 5.6 shares owned, with the potential for ownership dilution from the additional placement. The capital raising efforts are fully underwritten by Morgans Corporate Limited and Unified Capital Partners Pty Ltd.

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