Oklo Resources welcomes new investors

Oklo Resources Limited received firm commitments from sophisticated and institutional investors to subscribe for a placement of 80 million ordinary shares at an issue price of $0.125 per share to raise gross proceeds of $10 million. 

The raising was significantly oversubscribed with strong demand from both domestic and international investors. The Placement will be issued in two tranches. Tranche 1 will consist of 40 065 960 new shares to be issued pursuant to the Company’s existing placement capacity and tranche 2 will consist of 39 934 040 new shares to be issued subject to shareholder approval to be obtained at a General Meeting to be held by the Company on or about 14 June 2016. 

Proceeds from the Placement will primarily be used to accelerate exploration activities over the Company’s Mali Gold Projects and for general working capital purposes. 

Oklo Resources’ Managing Director, Simon Taylor, commented, “Following the recent outstanding drill success at Diabarou, the Company is now well positioned to accelerate evaluation of the open pit resource potential of this recent discovery and advance exploration over the numerous other compelling targets within its strategically located Dandoko, Moussala, Socaf and Yanfolila project areas. I thank shareholders for their continued support and also welcome new institutional investors to our register in what is shaping up to be a transformational period for Oklo.”

Oklo Resources is an ASX listed gold exploration company with operations in South and West Mali in West Africa.