Bellevue Gold (ASX:BGL) announced the successful completion of its share purchase plan (SPP) which closed Friday, 13 January 2023.

The SPP, which was open to 11,244 eligible shareholders, received valid applications from 3,329 eligible shareholders with a participation rate of 29.66% and an average application amount of $17,768.

The total applications under the SPP totalled approximately $59.25 million, well ahead of the original $10 million target.

The Company exercised its discretion to increase the size of the SPP to $25 million.

23,809,537 new fully paid ordinary shares were issued under the SPP and are expected to trade from 23 January 2023.

Excess application money resulting from the scale back will be refunded to shareholders.