Exploration and development company Golden Deeps (ASX:GED) secured firm commitments to raise AU$1.78 million through the issue of 30.3 million shares at AU$0.059 per share, according to a Friday filing with the Australian Securities Exchange.
The company also plans to issue one option per subscribed share, exercisable at AU$0.10, with an expiry date of Oct. 31, 2029, pending shareholder approval, the filing said.
The funds raised will be utilized for additional drill testing at the company's Havilah project in New South Wales, according to the filing.
Shares fell nearly 14% in morning trading.
Price (AUD): $0.06, Change: $-0.010, Percent Change: -13.51%
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