Clean TeQ Holdings Ltd. said March 8 that a previously announced underwritten A$150 million share placement of up to approximately 130 million shares at A$1.15 each to institutional, accredited, sophisticated and professional investors closed heavily oversubscribed.
The settlement of shares will be undertaken in two tranches, with the first tranche to be completed on or around March 14 and the second tranche to be completed on or around April 20.
The proceeds of the placement will be used to fund early works and long lead items to accelerate development at the Clean TeQ Sunrise nickel project in New South Wales, Australia.
