Okapi raising $2m to advance US and Canadian uranium projects

‘$2m if I can lick my own eyeball? You’re on.’ Picture: Getty Images share

Okapi has received strong backing from new and existing institutional and sophisticated investors for a placement to fund uranium development in the US and drilling in Canada.

The company received binding commitments for the $2m placement of about 10.5 million new shares priced at 19c each that includes one free attaching option exercisable at 30c and expiring on 19 July 2024 for every two shares subscribed.

Proceeds will be used to progress development of the Tallahassee uranium project in Colorado, which has a resource of 48.9Mlbs of U3O8, and preparatory drilling at the Newham Lake and Perch projects in Canada’s Athabasca Basin.The placement will be carried out under Okapi Resources’ (ASX:OKR) existing placement capacity with settlement expected on Friday, 4 November 2022.“We are pleased at the support we received from shareholders and welcome a number of […]

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