PolarX Ltd (AU:PXX) has released an update.
PolarX Limited has successfully completed its entitlement offer, raising $4.9 million through the issue of over 409 million new shares, resulting in Northern Star Resources Limited increasing its stake to 15.98% of the company. The funds raised are earmarked for the acquisition of an 80% interest in the Caribou Dome property, as part of the Alaska Range Project, and for exploration activities at the Alaska Range and Humboldt Range projects in Nevada, USA.
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