Uranium exploration company, 92 Energy, closes IPO early and raises the maximum $7m

Emerging Australian uranium company, 92 Energy (‘92E’ or ‘the Company’), has closed itsOffer early and oversubscribed, raising the maximum $7m under its prospectus lodged earlier this month. The Company will be the first pure-play uranium company to list on the ASX in more than a decade.

92E will be exploring for high-grade, unconformity-type uranium in the AthabascaBasin, Canada, which hosts some of the highest grade and lowest cost uranium deposits in the world, including Cigar Lake and McArthur River.

92E Chairman, Richard Pearce, said demand for the Offer had been pleasing but not a surprise, given the quality and location of the Company’s projects and current interest in the uranium sector.

“There is a renewed interest and focus on clean energy solutions and uranium is a critical component for bringing cost effective and low emission energy to global markets. We are humbled by the interest in 92E and excited about getting started on our Northern Hemisphere summer drill program for 2021,” Mr Pearce concluded.  

Post listing, which is expected in April, 92E’s largest shareholder will be TSXV-listedIsoEnergy Limited (TSXV:ISO), with about 16% of the Company.

Brokers to the IPO are Pamplona Group and the lawyers are Steinepreis Paganin.

ENDS

FurtherInformation:

MiaBenino

Citadel-MAGNUS

+61430 766 569

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