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Artemis upsizing bought-deal financing to A$9M

Artemis Resources Ltd. received a firm commitment from German company Deutsche Balaton AG to raise an additional A$2.5 million under a previously announced bought-deal financing.

The additional subscription will bring the total proceeds to about A$9 million, the company said Feb. 5.

The company will now issuing a total of 12.5 million shares at 20 cents apiece, with free-attaching options exercisable at 25 cents within 12 months.

Artemis earlier secured commitments from Global Investment Strategy UK Ltd. and other institutional clients to raise about A$6.5 million to accelerate exploration activities in Western Australia.