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Highfield Resources completes $3.1 million SPP taking capital raising proceeds to $18.1 million
September 9, 2021
Highfield Resources Ltd (ASX:HFR) has raised $3.11 million in a share purchase plan (SPP) adding to the $15 million the company raised by issuing shares to institutional and sophisticated investors under a placement.
Last month, the company extended the closing date of the SPP by a week to Friday, September 3, 2021, to provide an opportunity for eligible shareholders facing COVID-19 related restrictions to participate in the offer.
The $18.1 million proceeds from the placement and SPP will be used to fund the purchase of long-lead items and other site infrastructure, including power supply, at the company’s flagship Muga Potash Project in Spain.
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