Sultan Resources Ltd. (AU:SLZ) has released an update.
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Sultan Resources Ltd has secured commitments to raise $338,834 through a share placement, offering approximately 33.9 million new shares at $0.01 each, a 20% discount to the last closing price. The funds will be used for due diligence and working capital, with backing from professional and sophisticated investors. Share allotment is set for November 1, 2024, under the management of Xcel Capital Pty Ltd and ARQ Capital Pty Ltd.
For further insights into AU:SLZ stock, check out TipRanks’ Stock Analysis page.