Perth-based mineral explorers Hazelwood Resources aims to raise $4 million to fund exploration and evaluation of their tenements through the recent issue of a prospectus for equities.
The company, with sites throughout the Pilbara and Gascoyne regions, will issue a total of 20 million shares at an issue price
of 20 cents each, to raise up to $4 million before expenses.
Oversubscriptions of up to 10 million shares will be accepted, to the value of $2 million.
The company is chaired by McAuliffe Legal director Mark McAuliffe, who also serves as director of Vital Metals Ltd. He is joined on the board by technical director Terence Butler-Blaxell, and non-executive directors Ian Richer and John Chegwidden.
DW Collins Grange has been appointed as broker to the offer, with Rix Levy Fowler acting as auditor and investigating accountant. The offer is not underwritten.
The offer opens on August 7, and closes on October 4.
