Lefroy Exploration (ASX:LEX) received firm commitments to raise about AU$3.6 million through the placement of 28.8 million shares at an issue price of AU$0.125 apiece, according to a Friday filing with the Australian bourse.
Company directors committed to participate in the placement for a total of AU$317,570, subject to shareholder approval, the filing said.
Proceeds will be used to advance the Mt Martin gold deposit in Western Australia, per the filing.
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