Proposed issue of Securities - MVL

Marvel Gold Limited has announced a proposed issue of securities. They plan to issue 95,000,000 fully paid ordinary shares at a price of AUD 0.06000 per share, resulting in a total consideration of AUD 5,700,000. The securities will be issued on November 9, 2020. The purpose of the issuance is to raise funds for the company's 2020-21 exploration program and general working capital. The issue will not require security holder approval, and 54,645,396 shares will be issued under the entity's 15% placement capacity. Additionally, 40,354,604 shares will be issued without security holder approval using the entity's additional 10% placement capacity. The lead manager for the issue is Bridge Street Capital Partners Pty Ltd, who will receive a fee of 2.77% on the total funds raised.