The investment partnership is to raise $1.8m to enable expansion of 2013 drilling program as well as underpinning exploration in 2014 for Alligator.
In addition to expanding the current drilling program, the capital raised from the Placement and the Rights Issue will be utilised to fund underpin ongoing exploration activities at the company’s Tin Camp Creek Project and Mamadawerre Joint Venture Project.
Flowing completion of entitlement offer, Alligator has appointed Peter McIntyre and John Main to its board.
Alligator CEO Rob Sowerby said: "We believe this investment and the addition of Peter and John to the Board will provide Alligator with a renewed focus to achieve our objective of discovering world class high grade uranium deposits with a clear pathway to development."
The Caramal Deposit’s 2013 drilling program began last month and the first batch of drill samples are undergoing analysis, while the assay results for this first phase of drilling is scheduled in mid-October 2013.
