Shaw and Partners is pleased to be appointed as Joint Lead Manager to the proposed A$24.0 million capital raising by Auteco Minerals Ltd (ASX.AUT)

The Company is seeking to raise approximately A$20 million by issuing approximately 250.0 million new ordinary fully paid shares issued at $0.08 per share by way of a single tranche institutional placement. In addition to the Placement, AUT Directors will be conducting a share sale of up to approximately 49.5 million shares at the same price as the Placement.

The offer price of A$0.080 per share represents a 4.8% discount to last traded price of A$0.084, a 13.5% discount to the 5-Day VWAP of A$0.092 and a 12.6% discount to the 10-Day VWAP of A$0.091.

The funds raised will be used to continue exploration activities at the company's Pickle Crow Gold Project in Ontario, Canada.

The offer is available to Australian Sophisticated and Professional Investors only.