Matsa Resources (ASX:MAT) conducted a share placement to issue 84.8 million new shares at a price of AU$0.028 apiece with two corporate participants to raise AU$2.37 million, according to a Monday filing with the Australian Securities Exchange.
The two participants include the company's largest shareholder, Delphi subsidiary Deutsche Balaton, and new shareholder, Bulletin Resources (ASX:BNR), the filing said.
Proceeds will be used for the development of the Devon Pit Gold Mine and working capital requirements.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.