Deep Yellow has completed Tranche 1 of its significant placement, having raised approximately A$140.5 million before costs.

The uranium company issued 114,706,334 ordinary fully paid shares at A$1.225 each to qualified, institutional, sophisticated, and professional investors.

According to John Borshoff, the company's Managing Director & CEO the raise the raise is set to strengthen Deep Yellow's position in the global uranium supply sector,

Deep Yellow is eying for growth, with plans to complete Tranche 2 of the placement and to raise an additional A$30 million through a Share Purchase Plan for eligible shareholders.

Borshoff expressed confidence in the company's direction, highlighting the benefits for shareholders as Deep Yellow aims to become a significant player in the uranium industry.