Vertex’s Executive Chairman, Roger Jackson commented:
“We are very pleased to have the support of a strategic investor in this placement along with some of our very supportive existing shareholders backing the convertible loan. The funds will be used to acquire a laser Ore Sorter which will be integrated into the Gekko gravity gold plant along with an underground drill rig. The drill will be focussed on the high-grade targets below and along strike of the high-grade gold resource at Reward. We wish to build our gold inventory from within our Reward mine. We are on track with the plant refurbishment and preparations to move the Reward mine into production in January 2025”
Placement Details
The Placement will comprise the issue of up to 6,900,000 new fully paid ordinary shares at an issue price of $0.16 per share. Subject to shareholder approval, the placement participant will also receive three (3) free attaching options for every five (5) shares. The options will be on the same terms as existing VTXOA options, which have an exercise price of 25c per share and an expiry date of 17/07/2026 (VTXOA Options).
The Placement will be conducted in a single tranche using the Company’s capacity under Listing Rule 7.1.
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