Nordic Resources Secures AU$1.75 Million in Institutional Placement

MT Newswires Live

10/03

Nordic Resources (ASX:NNL) has raised AU$1.75 million through the issue of 10.9 million new shares at AU$0.16 each, representing a 4.2% premium to the 15-day volume weighted average price, according to a Friday Australian bourse filing.

The company has also issued 3.6 million new options with a strike price of AU$0.25, set to expire on Dec. 27, the filing added.

The funds will support expanded drilling and exploration at the Kopsa, LI-Kiimala, and Hirsikangas gold projects in Finland, accelerate pre-production development at Kopsa, and advance processing and engineering studies for the regional gold strategy in the Middle Ostrobothnia Gold Belt, per the filing.

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