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Peninsula Energy Receives Initial Substantial Shareholding Notice

Peninsula Energy (ASX:PEN) has received a notice of initial substantial shareholding from Resource Capital Fund VI with a 12.15% interest.

RCF VI holds 840 million through a placement priced at $0.02 per share to raise $16.8 million. This is part of a broader $69.4 million fully underwritten institutional funding.

Proceeds from the funding will be used to complete construction of Stage 1 of the Lance Uranium Projects in Wyoming, commence uranium production and achieve positive cashflow in the second year.

Peninsula has also completed the $23.9 million accelerated institutional component of its renounceable entitlement offer and will raise a further $28.7 million will be raised through the retail entitlement offer.

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