PENMF - Peninsula Energy to be largest US-based end-to-end uranium producer
(NewsDirect)
Peninsula Energy Ltd(ASX:PEN, OTCQB:PENMF) CEO Wayne Heili speaks with Proactive soonafter announcing the company has secured binding commitments to raiseA$50 million via a placement to global institutional and sophisticatedinvestors to fund continuing construction works and wellfielddevelopment to restart uranium production at the Lance Project inWyoming, USA. In addition, the company is also undertaking a securitypurchase plan (SPP) to raise up to A$10 million, providing existingeligible shareholders the opportunity to participate in the capitalraising on the same terms as the placement.
“We are pleased toreceive such significant support from many existing and new,high-quality institutional and sophisticated investors, providing uswith a large amount of equity to allow completion of plantconstruction and commencement of commercial production at Lance inlate 2024,” Heili said.
“Followingthe successful completion of the equity raising, Peninsula will bewell capitalised to continue works at the Lance Project and deliver onthe timeline to production restart."
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Proactive Investors
JonathanJackson
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Jonathan@proactiveinvestors.com
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