Resouro Strategic Metals completes $1.9M placement

• Resouro Strategic Metals issued 7,440,000 common shares at $0.25 per share to complete a $1.9 million initial closing.
• Strong investor interest prompted the company to upsize the total offering target from $2 million to $2.5 million.
• Proceeds will advance environmental programmes for the Tiros Project preliminary feasibility study and provide general working capital.

Resouro Strategic Metals (ASX:RAU) has completed the first tranche of its private placement, raising $1.9 million in gross proceeds.

High investor demand led the company to increase its total fundraising target from $2,000,000 to $2.5 million.

The company issued 7,440,000 common shares at $0.25 each while paying a $4,500 cash finders' fee.

Resouro stated that net proceeds will advance environmental programmes for its Tiros Project preliminary feasibility study.

Following the announcement, the Resouro Strategic Metals share price was up at $0.32.