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Cortona Resources completes $10.3 million capital raising

Cortona Resources (ASX: CRC) has settled a shortfall from the Company’s renounceable Rights Issue to sub‐underwriters and Clients of Patersons Securities to raise $10.3 million.

Settlement of the shortfall concludes Cortona’s capital raising, which included the Rights Issue and a placement to an international Fund Manager.

Managing Director Peter van der Borgh said this was a terrific outcome for Cortona.

"We now have sufficient funds to achieve all of our current objectives as set out in the Rights Issue prospectus," Mr van de Borgh said.

"The Dargues Reef DFS and Planning Approvals process are underway, and aggressive drilling campaigns at Dargues Reef in NSW and North Monger in WA are about to commence.

“The plans we have in place have been months in the making, and we are confident that we have positioned the Company to create value for shareholders over the coming year as we move towards gold production at Dargues Reef."

Disclosure: The author holds no positions in the company