Moab Minerals, an ASX-listed company, has received a firm commitment from European Lithium to raise A$500,000 via a share placement. The placement consists of 166.67 million ordinary shares at A$0.003 per share, with European Lithium also obtaining one free-attaching option for every two shares. These options, set at an exercise price of A$0.008, will expire on December 5, 2027.
The share issuance will take place under Moab’s existing placement capacity, with the shares and options expected to be allocated on March 4. Funds raised will be used to advance exploration efforts at the Manyoni uranium project and support general working capital needs