ActivEX (ASX:AIV) is raising funds through a private placement to fund exploration.
The company has entered agreements with ASF Gold and Copper Pty Ltd and Start Grand Global Limited to place 15.625 million shares at $0.08 to raise $1.25 million.
The issue price is a 38% premium to the last traded price of $0.058.
Following receipt of the Placement funds ASF Gold and Copper Pty Ltd will hold 19.61% and Start Grand Global Limited will hold 7.57% of ActivEX.
Exploration recently in Queensland yielded rock assays of 38.9% copper and 49.5g/t gold.
Price: 0.135 AUD
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