Shaw and Partners is pleased to be appointed as Joint Lead Manager, Joint Bookrunner and Joint Underwriter to the proposed capital raising by DroneShield Limited (ASX.DRO).
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Western Australia gold explorer Black Cat Syndicate was asking investors to tip in $7 million via a share placement to fund further exploration at its gold project Paulsens on Monday.
The capital raise comes just seven months after the ASX-listed company went to investors for $15 million.
Shaw and Partners, as Joint Bookrunner and Joint Lead Manager, was rounding up investors at 22.5¢ per share, a 15.1 per cent discount to the last traded price and a 26.4 per cent discount to the 10-day VWAP.
Proceeds of the raise will be used for ongoing exploration activities at Paulsens, study optimisation, debt negotiation and general working capital.
Black Cat tapped equity markets to help pay for a $44.5 million acquisition of two gold projects, Coyote and Paulsens, from bigger player Northern Star last year. Its flagship project is Kal East in Western Australia’s Kalgoorlie region.
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