ASX: ARV
www.artemisresources.com.au
Mr. David Lenigas reports:
West Perth, WA / January 30, 2018 / JMN Wire / Artemis Resources Limited (ASX: ARV) ("Artemis") advises that it has received firm "bought deal" commitments from a London Institution, Global Investment Strategy UK Ltd, to raise $4.5 million (before costs) through the issue of approximately 22.5 million fully paid ordinary shares ("Shares") at $0.20 per Share (together with 5.625 million free-attaching options exercisable at $0.25 each, and expiring 12 months from the date of issue).
David Lenigas, Artemis's Executive Chairman, commented:
"This oversees institutional financing further increases our cash reserves as we head in to a very busy 6 months period of re-commissioning and upgrades at our Radio Hill treatment plant. This additional funding will provide Artemis with the necessary working capital to commence early mining operations at a number of our proximal deposits in the Karratha area in order to have suffienct stockpiles pre-mined at the plant site available for processing."