VRX Silica Limited (ASX: VRX) is pleased to announce that a total of 22,662,911 quoted options (VRXO) were exercised before their 31 July 2021 expiry date, representing a 94.7% take up of the options.
A total of 23,939,525 options with an exercise price of $0.18 were allotted on 31 January 2020 in connection with the placement of VRX Silica shares completed in November 2019.
A total of $4,079,324 was raised from the exercise of the options. The Company is in a solid financial position with almost $14 million in cash as at the date of this announcement.
VRX Silica Managing Director, Bruce Maluish, said,
“We are delighted with the strong show of support from optionholders in exercising the quoted options, and welcome all new shareholders to the Company.
“With almost $14 million of cash at bank, VRX Silica is well placed to progress work on our Arrowsmith and Muchea silica sand projects towards development and production.”