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Markedtofutureon Sep 18, 2017 7:18pm
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CAPITAL RAISE OF $12 MILLION
CAPITAL RAISE OF $12 MILLIONASX / Media Announcement 19 September 2017
ARTEMIS IN A STRONG CASH POSITION TO PARTNER WITH NOVO IN KARRATHA CONGLOMERATE GOLD PROJECT DEVELOPMENT
Artemis Resources Limited (ASX Code: ARV)(“Artemis”) advises that it has received firm commitments to raise a total of $12 million (before costs), through the issue of 60 million Artemis ordinary shares at A$0.20 (20 cents) per share.
Affiliates and clients of Sprott Capital Partners in Canada collectively subscribed for A$4 million of the capital raise with $3 million coming from Global Investment Strategy UK Ltd and the balance coming from a number of other institutional and professional investors from the USA, Netherlands and Australia.
David Lenigas, Artemis’s Executive Chairman, commented; “These funds will allow Artemis to play a key role in working closely with Novo on the 50/50 Joint Venture for conglomerate and/or paleo placer gold at Purdy’s Reward and other targets within the mutual JV ground in the Karratha region of Western Australia.”
“We are anticipating that Novo will quickly spend the required $2 million to earn-in to their 50% of the JV and we are very appreciative of the institutional and professional investors support that allows Artemis to significantly boost its cash reserves so that the Company can contribute towards and maintain its 50% interest in this exciting project."
CONTACTS: For further information on this update or the Company generally, please visit our website at www.artemisresources.com.au or contact: Investors / Shareholders Edward Mead Executive Director Telephone: +61 407 445 351 Email: ed.mead@artemisresources.com.au