leadf
logo-loader
viewActivEX

ActivEX receives vote of confidence from ASF Group after placement at a premium

au_australianhundreddollar350_4fac88dd0ca2d.jpg

ActivEX (ASX: AIV) has received a major vote of confidence in the company's Selwyn and Florence copper-gold-cobalt projects from ASF Group (ASX: AFA), with ASF Group becoming a new cornerstone investor in ActivEX after the completion of a placement.

Most importantly - the placement was conducted at $0.027 for 24.8 million shares to raise A$670,000, which is a premium to the market.

Providing another interesting factor, ASF Group has a good track record of matching Australian resource projects with Chinese investment.

The share placement represents 15% of the existing issued capital and provides ASF Group with a 13.04% shareholding, with the AF Group chairman, Ms. Min Yang, invited to join the ActivEX board of directors.

Ms. Min Yang has extensive business connections in the Asia Pacific region especially greater China and has over twenty years of hands-on experience dealing with both private and state-run businesses.


Allocation of new funds

ActivEX will use the funding injection to advance exploration drilling at the Selwyn and Florence copper-gold-cobalt projects in the Cloncurry district - where the company is targeting a JORC Resource.

Funds will also be allocated to continue exploration work on the Barambah high grade gold-silver deposit north-west of Gympie.

 

Proactive Investors is a market leader in the investment news space, providing ASX “Small and Mid-cap” company news, research reports, StockTube videos and One2One Investor Forums.

Quick facts: ActivEX

Price: 0.17 AUD

ASX:AIV
Market: ASX
Market Cap: $30.12 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

FastForward Innovations' boss joins Leap Gaming board to spearhead 2021...

FastForward Innovations Ltd's (LON:FFWD) Ed McDermott, the group's chief executive, has been appointed to the board of Leap Gaming as a non-executive director. His expertise in running a listed company and the knowledge of the London market will be used to spearhead the virtual sports...

11 hours, 31 minutes ago

2 min read