Peninsula Energy secures commitments for A$15 million equity raising for uranium purchase

The placement and SPP will fund the purchase of 300,000 pounds of uranium at a price of US$31.35 per pound, a strategic purchase that will assist the company as it transitions the Lance Project in Wyoming to a low pH ISR operation. Settlement is due next month and the uranium will be stored at the Cameco Facility in Ontario, Canada. Peninsula Energy Ltd ( ASX:PEN ) ( OTCMKTS:PENMF ) (FRA:P1M) has received commitments from institutional and high net worth investors for A$13.4 million through a share placement at 15 cents per share.

A share purchase plan (SPP) will be offered to eligible shareholders to raise up to a maximum of A$2 million at the same share price as the placement.

Net proceeds will be used to settle the purchase of 300,000 pounds of natural uranium concentrates (U3O8) concentrates at a price of US$31.35 per pound, which is reflective of the prevailing […]

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