Critical Resources, Dotz Nano in equity raisings

afr.com:

Canadian lithium explorer Critical Resources and carbon capture technologies business Dotz Nano were drumming up interest in equity raisings on Tuesday morning.

Dotz Nano and Critical Resources were among Tuesday’s listed equities raising candidates. Louise Kennerley

Critical Resources had Canaccord Genuity and Sixty Two Capital raising $9.9 million via a flow-through share placement to Canadian investors, which would be followed by an institutional book build open to their Australian counterparts.

The $7.9 million flow-through placement was being done at 6.1¢ a share. The subsequent share sale to ex-Canada investors would be at 4.5¢ a share. Concurrently, it would run a $2 million bookbuild at 4.5¢ apiece, which was a 15.1 per cent discount to the last traded price.

Critical Resources’ hard rock lithium projects in Ontario have a maiden JORC mineral resource estimate for 8 million tonnes at 1.07 per cent lithium oxide. It would use the proceeds to continue drilling at its Mavis Lake project and for potential land package acquisitions, according to the term sheet.

Bids were due 5pm Tuesday for Asia Pacific investors. The company would have a $79.6 million market capitalisation after the raising.

Elsewhere, listed microcap Dotz Nano which is chaired by ex Myer boss Bernie Brookes, was rattling the tin for $5 million at 20¢ a share.

The offer price was an 18.4 per cent discount to Friday’s close and included a one-for-two option with a 35¢ strike price and two-year expiry.

Potential investors were told $3 million of the total raising had already been spoken for by existing shareholders. And the proceeds would help fund Dotz Nano’s May acquisition of H2 Blue Tech Limited’s carbon capture assets and technology.

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