Siren Gold to Raise AU$4 Million via Share Placement; Shares Rise 2%

MT Newswires Live

Aug 15

Siren Gold (ASX:SNG) received firm commitments to raise AU$4 million through a placement of about 80 million new shares at AU$0.05 apiece to new and existing institutional and sophisticated investors, according to a Friday filing with the Australian bourse.

Participants will receive a one-for-two free attached option with an exercise price of AU$0.10 expiring May 17, 2027, the filing added.

Proceeds will be used to fund exploration and drilling at the company's gold projects, the company said.

Shares of the company rose 2% in recent Friday trade.

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