The Rick Hart-chaired Renaissance Minerals is set to open its $6 million initial public offer this week, with plans to list on the local stock exchange at the end of the month.
The Subiaco-based Renaissance plans to raise a $5 million through a priority offer to Gryphon Minerals shareholders and the general public through its IPO which will open on Friday.
The company will accept oversubscriptions to the tune of $1 million. The shares are priced at 20 cents each.
Max Capital and BGF Equities are co-managing the IPO.
Earlier this year, Renaissance agreed to acquire from Gryphon four Western Australia gold projects in return for 10 million shares and the reimbursement of up to $200,000 in past expenditure.
Renaissance also holds a 90 per cent interest in the Quicksilver gold project in Alaska.
In its prospectus, Renaissance said if full subscription of $5 million is achieved, about $3.3 million will be used towards exploration costs across some of its projects.
Other directors on Renaissance's board include managing director Justin Tremain and non-executive director Mel Ashton.
Renaissance plans to list on the Australian Securities Exchange on May 28.
