ESR completes $1.25M placement

Estrella Resources Ltd (ASX: ESR) has successfully completed a $1.25M placement to advance its Timor-Leste manganese exploration. The placement involved issuing 83,333,333 fully-paid ordinary shares at an issue price of $0.015 per share, with participating investors receiving free attaching listed options (ASX: ESROB). The funds raised will primarily support ongoing exploration efforts and the commencement of a drilling program at our Timor-Leste operations. Barclay Wells Ltd led the placement, with a total of 127,500,000 securities to be issued across two tranches. The Placement is expected to be settled and quoted on 21 October 2024 and 12 November 2024. The issue price represents a 7% increase to the last trading price on 18 October 2024. For further details, please refer to the Appendix 3B to be released. Investors are encouraged to reach out for any inquiries or clarification regarding this announcement. Contact Managing Director, Christopher J. Daws, for more information.