Venture Minerals Limited (ASX:VMS, OTC:VTMLF) has completed its A$3.25 million capital raising, placing just under 30 million shortfall shares at 18 cents a pop.
A top-up placement was conducted at the same price, issuing 13.9 million new shares on top of the 137 million distributed under Venture’s share purchase plan.
The funds raised will support exploration over the company’s rare earth portfolio, meaning it can move straight into drilling operations as it hunts for critical minerals.
Work is planned at the Kulin North, Kulin South, Iron Duke, Bandy and Brothers projects.