Bryah Resources (ASX:BYH) has secured firm commitments to raise AU$170,000 through a placement of 28.3 million shares at AU$0.006 each to sophisticated and exempt investors, according to a Tuesday Australian bourse filing.
The proceeds will be primarily used for environmental and mining studies, field work at the Golden Pike gold and antimony project, and general working capital, the filing said.
The offer price represents a 20.8% discount to the 15-day volume-weighted average price of AU$0.0076, with the new shares expected to be issued on July 23, the filing added.
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