26 May 2025 – Perth, Australia | Patriot Resources Limited is pleased to announce the successful completion of an oversubscribed share placement to raise $2.2 million (before costs) for the Company, which saw strong support from existing shareholders, new institutional investors, and high-net-worth individuals.
The Placement was priced at $0.06 per share, and has resulted in the issuance of 36,604,490 new shares, including $300,000 in over-subscriptions (subject to shareholder approval).
Proceeds will be directed toward advancing exploration and drilling activities across Patriot’s copper and gold portfolio in Zambia, which includes the Katwaro Copper-Gold Project and the Sugarloaf Copper Deposit that has been flagged for acquisition.
Placement Highlights:
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$1.896 million raised via issue of 31,604,490 shares under Listing Rules 7.1 and 7.1A.
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Additional $300,000 in over-subscriptions via 5,000,000 shares, subject to shareholder approval.
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6,000,000 Broker Options to be issued (subject to approval), exercisable at $0.09, expiring two years from issue.
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CPS Capital Group and Foster Stockbroking acted as Joint Managers and Brokers to the Placement.
Funds will be used for:
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Drilling at the Katwaro Copper-Gold Project
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Exploration at the Sugarloaf Copper Deposit
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Regional exploration, due diligence, and working capital.
For further information, please contact:
Hugh Warner
Executive Chairman
[email protected]
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]
