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Apollo raises cash for exploration in Gabon

3rd November 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed explorer Apollo Minerals will raise A$7.2-million in an institutional share placement to fund exploration work in Gabon.

The company on Wednesday announced that it had received firm commitments from institutional and high net worth investors to subscribe for 90-million shares in the company, at a price of 8c each.

The placement was supported by Sprott Capital Partners, which acted as financial adviser.

“We are extremely pleased to have secured strategic support from Sprott and to welcome new high caliber investors as fellow shareholders of Apollo Minerals. The placement will enable the company to accelerate exploration activities and advance our plans to unlock the exceptional scale and quality potential we are discovering at Kroussou,” said Apollo MD Neil Inwood.

“We are excited by the opportunity to build international recognition of Kroussou’s significance and look forward to working with Sprott and others to build value for shareholders.”

Edited by Creamer Media Reporter

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