PNG investors put K1.75 million into Rawson

RAWSON Resources, through its majority owned subsidiary Dondonald, has secured a capital investment of nearly K1.75 million from a group of resident PNG Investors.
PNG investors put K1.75 million into Rawson PNG investors put K1.75 million into Rawson PNG investors put K1.75 million into Rawson PNG investors put K1.75 million into Rawson PNG investors put K1.75 million into Rawson

In the transaction, investors were invited to subscribe for a 33% stake in Dondonald in exchange for cash invested of K1,744,186.

Rawson and the group of investors have also entered into a put and call option, whereby Rawson at any time over the next three years can call for purchase of the investors' shares in Dondonald with payment by way of a share placement of up to 15% of the current issued capital of Rawson (capped at 15,832,072 shares).

Upon completion of the capital investment, the ownership interests of Dondonald will be Rawson Resources (60%), PNG investors (33%) and Moira shareholders (7%.)

"The injection of capital provides the funds required to progress early stage exploration efforts across our Papua New Guinea exploration portfolio, which includes PPL 549, PPL 391 and APPLs 550 and 560.

Rawson is an ASX-listed company focused on building a high-impact oil and gas portfolio in Papua New Guinea while continuing to commercialise its existing assets in the Cooper and Otway basins in Australia.

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