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Deep Yellow Limited (DYL.AX) A$40.8M Placement Successfully Completed

·2-min read
Deep Yellow Limited
Deep Yellow Limited

Deep Yellow Limited (DYL.AX) A$40.8M Placement Successfully Completed

Perth, Australia, Feb 24, 2021 - (ABN Newswire) - Deep Yellow Limited (ASX:DYL) (HAM:JMI) (OTCMKTS:DYLLF) is pleased to confirm that the placement announced on 18 February 2021 (Placement) has been successfully completed.

Accordingly, the Company has today issued 62,768,803 ordinary fully paid shares (Shares) to qualified, institutional, sophisticated and professional investors at A$0.65 per Share to raise approximately $40.8 million (before costs).

Euroz Hartleys Securities Limited and Aitken Murray Capital Partners Pty Ltd acted as Joint Lead Managers to the Placement.

Commenting on the successful Placement, Deep Yellow's Managing Director & CEO, John Borshoff said:

"It is worth repeating that this highly successful fundraising has put the Company in a strong financial position making us better able to execute on the multiple potentially wealth creating activities we have under consideration.

"The strengthening of our balance sheet comes at an appropriate time with a busy 18 months ahead as we complete the Tumas DFS, continue exploration across the Reptile and Nova projects and advance targeted M&A opportunities.

"Additionally, we are confident in raising a further $2M from the SPP which will allow eligible shareholders to participate in this capital raising."


About Deep Yellow Limited:


Deep Yellow Limited (ASX:DYL) (OTCMKTS:DYLLF) (Namibian Stock Exchange:DYL) is a specialist differentiated uranium company implementing a new contrarian strategy to grow shareholder wealth. This strategy is founded upon growing the existing uranium resources across the Company's uranium projects in Namibia and the pursuit of accretive, counter-cyclical acquisitions to build a global, geographically diverse asset portfolio. The Company's cornerstone suite of projects in Namibia is situated within a top-ranked African mining destination in a jurisdiction that has a long, well regarded history of safely and effectively developing and regulating its considerable uranium mining industry.

Contact:

John Borshoff
Managing Director/CEO
T: +61-8-9286-6999
Email: john.borshoff@deepyellow.com.au
www.deepyellow.com.au

Source:
Deep Yellow Limited

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