Alligator Energy (ASX:AGE) has placed the shortfall in applications under the recently conducted rights issue at $0.04 to Taycol Nominees and its sub-underwriters, in accordance with the underwriting arrangements.
The shortfall in applications totalled 25,528,278 shares, raising a further $1,021,131.
Macallum Group, a significant shareholder, participated in the sub-underwriting arrangements by taking up a further 7,260,000 shares.
This concludes the rights issue process which raised a total of $2,702,985 before capital raising costs.
Alligator is currently drilling at its Tin Camp Creek uranium project in the Northern Territory, testing an interpreted alteration zone and its intersection with fault breccia zones.
About 2,000 metres of drilling is planned for the initial Orion North and Northeast Myra prospects.
Laboratory assay results from the first phase of drilling at Orion North are expected this month.
The extent of further drilling to be undertaken in 2014 will be dependent on results.
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