Catalyst Metals
(ASX:CYL) is pleased to advise that Gold Exploration Victoria has agreed to subscribe for a $13.02 million placement of Catalyst shares at a subscription price of $1.50 per share.
Gold Exploration Victoria is a wholly owned subsidiary of Hancock Prospecting and Joint Venture Partner on the Four Eagles Gold Project,
Proceeds from the share placement will strengthen the Company’s working capital position and enable it to move forward with projects at the Four Eagles Gold Project and Tandarra Gold Project.
They will also continue to pursue aggressive exploration programmes in the Whitelaw Gold Belt north of Bendigo and adjacent belts north of the Fosterville and Inglewood goldfields.
Following the share placement, Gold Exploration Victoria will hold an equity interest of approximately 11 per cent of Catalyst.
Shares in Catalyst Metals
(ASX:CYL) are trading 5.88 per cent higher at $1.98.
