Ongwe Capital Raise Closes Early Amidst Investor Demand
Ongwe Minerals Inc has closed its capital raise to Namibian investors early after demand exceeded the shares available. Cirrus Securities, which is facilitating the Namibian leg of Ongwe Minerals’ capital raise, announced that the offer closed before the 17h00 deadline on Friday. “The capital raise has been fully taken up. No further subscriptions will be accepted. Thank you for the overwhelming response,” Cirrus says in a notice on Friday. Ongwe Minerals is a minerals explor
Ongwe Minerals Inc. has concluded its capital raise for Namibian investors ahead of schedule due to overwhelming demand. Cirrus Securities, managing the Namibian portion of the offering, announced the full subscription of shares before the Friday deadline. The company, which explores for minerals and is listed on both Canadian and Namibian exchanges, aimed to raise up to CAD10 million (N$116.5 million) primarily for exploration in Namibia and general corporate needs. Shares were offered at CAD1.38 (N$16.35) each. Cirrus Securities cautioned potential investors about the high risks associated with mineral exploration, emphasizing the speculative nature and potential for total investment loss.
This indicates strong investor confidence in Ongwe Minerals' Namibian operations and the broader mineral exploration sector in the region.
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