Perth-based uranium explorer Oklo Uranium Ltd aims to raise $8 million through its Initial Public Offer to fund acquisition, exploration and development of tenements in Australia and Mali.
The company will offer 35 million shares at 20 cents each, raising $7 million, with a further provision of 5 million shares at 20 cents each to raise a further $1 million in oversubscriptions.
The offer, which is due to close today, comes after the company was first incorporated in September last year.
The company is chaired by Extract Resources Ltd and Coronet Resources Ltd chairman Peter Meagher, who will also serve as company secretary. He is joined on the board by managing director Ross Brown and Glenn Whiddon, the chairman of Toronto Venture Exchange-listed Grove Energy Ltd and director of OmegaCorp and Segue Resources Ltd.
BDO Kendalls Audit & Assurance (WA) serves as auditor to the company, with Horwath Securities (WA) Pty Ltd acting as investigating accountant. Oklo receives legal advice from Hardy Bowen.
Montagu Stockbrokers will act as sponsoring broker to the offer.