Alligator Energy (ASX:AGE) raises A$15m Placement and launches A$3m Share Purchase Plan
Alligator Energy has received firm commitments from institutional and sophisticated investors to raise A$15m through a placement, with the company also undertaking a Share Purchase Plan targeting up to a further A$3m.
The funds raised, combined with existing cash, will be applied to resource drilling programs, exploration activities, the Samphire Uranium Project mining lease application and the Samphire Feasibility Study.
Highlights
Commitments received to raise A$15m before costs through a placement of 333,333,334 new fully paid ordinary shares at A$0.045 per New Share.
Placement strongly supported by existing and new institutional investors in Australia and overseas.
Share Purchase Plan to eligible shareholders at the same Offer Price of A$0.045 per New Share, targeting up to a further A$3m.
Funds raised, combined with existing cash, to support resource drilling at Blackbush, Plumbush and the corridor between the 2 deposits, complete the current Big Lake drill program, progress the Samphire Uranium Project mining lease application and advance the Samphire Feasibility Study targeting completion in Q3 2027.
The placement comprises the issue of 333,333,334 new fully paid ordinary shares at an Offer Price of A$0.045 per New Share.
The New Shares will rank equally with Alligator Energy’s existing fully paid ordinary shares and are anticipated to be issued on Wednesday, 12 August 2026.
The funds raised will be applied to work programs at Samphire and Big Lake, including the Samphire Drilling Program, Big Lake Drilling Program, Samphire Feasibility Study, business development, working capital and costs of the offer.
The Board will allocate funds between these categories based on circumstances that drive the best shareholder value outcome.
At the Samphire Uranium Project, funds will be used to progress the mining lease application and advance the feasibility study, targeting completion in Q3 2027.
Further resource drilling programs will continue at Blackbush, Plumbush and the corridor between the 2 deposits.
At Big Lake, Alligator Energy will complete the current drill program at the project, to support an exploration target estimate in 2027.
Alligator Energy CEO Andrea Marsland-Smith said the placement received support from existing and new institutional investors.
“The strong support received from both existing and new institutional investors is a clear endorsement of the quality of the Samphire Uranium Project and Alligator's broader growth strategy. We sincerely thank investors for their confidence in our team and our vision.”
The Share Purchase Plan will be conducted at the same Offer Price as the placement for eligible shareholders.
Shareholders with a registered address recorded in Australia and New Zealand on the Record Date will be invited to participate, with eligible shareholders able to apply for up to A$30,000 worth of New Shares under the SPP, which aims to raise A$3m before costs.
Alligator Energy is a uranium project development and exploration company with projects that have clear pathways for approval and development, including the Samphire Uranium Project and Big Lake project in South Australia.
The capital raising will be applied to the company’s planned work programs, including drilling activities, feasibility study work and progression of the Samphire Uranium Project mining lease application.