Argonaut acted as Joint Lead Manager to successfully raise A$6.0 million for Apollo Consolidated Limited (ASX:AOP) (“Apollo” or the “Company”). The Company raised funds from Australian and international institutional and professional investors by way of a $6.0 million Placement (“Placement”) at an issue price of A$0.20 per share. The Placement was oversubscribed.
Apollo has confirmed that funds raised pursuant to the Placement will be used towards accelerated reverse circulation (“RC”) and diamond drilling at Apollo’s flagship Lake Rebecca Gold Project where a multi-rig RC campaign is now underway, as well as provide general working capital.
Argonaut is delighted to continue to provide support to Apollo and looks forward to our ongoing work with the Company.
Additional information regarding Apollo can be found on the Company’s website at www.apolloconsolidated.com.au