Shaw and Partners is delighted to be appointed as Joint Lead Manager to the proposed capital raising by Peninsula Energy (ASX: PEN).

Peninsula Energy is proposing to raise up to approximately $13.4m, via a Placement of up to approximately 89.3m new ordinary fully paid shares at $0.15 per share. The company will also conduct a Share Purchase Plan for eligible shareholders in Australia and New Zealand which will be non-underwritten capped at an amount of $2.0 million.

The Offer Price of $0.15 per share represents a 18.9% discount to last close of $0.1850, a 20.0% discount to 5 day VWAP and a 15.7% discount to the 15 day VWAP.

The offer is available to Australian Sophisticated and Professional Investors only.

Proceeds of the offer will be used to fund the purchase of up to 300k lbs of physical uranium, strengthen balance sheet  and preparation activities for low pH operation at Lance Project.

About Peninsula Energy

Peninsula Energy Limited is an ASX listed company that owns the Lance Uranium Projects in Wyoming, USA which are in transition from an alkaline to a low pH in-situ recovery operation, with the aim of achieving the operating performance and cost profile of the industry leading uranium projects.