Fargo Enterprises (ASX:FGO) - Outgoing Executive Director, Dr Catriona Wallace
Outgoing Executive Director, Dr Catriona Wallace
Source: Ode Management
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  • Fargo Enterprises (FGO) completes public offer raising $6 million through the issuing of 300 million new shares at an issue price 0.2 cents per share
  • The company says proceeds raised from the public offer will be used to fund diamond exploration activities across its portfolio of projects in Western Australia’s Kimberly region
  • In other news, Fargo will be renamed Odessa Minerals and is looking to be reinstated on the ASX under the proposed ticker code ODE
  • The company says its working closely with the ASX to satisfy its compliance conditions with reinstatement to official quotation anticipated for January 18 2022
  • Shares have been trading flat at 0.5 cents

Fargo Enterprises (FGO) has completed a public offer raising $6 million through the issuing of 300 million new shares at an issue price 0.2 cents per share.

The company said proceeds raised from the public offer will be used to fund diamond exploration activities across its portfolio of projects in Western Australia’s Kimberly region.

In other news, Fargo will be renamed Odessa Minerals and is looking to be reinstated on the ASX under the proposed ticker code ODE.

The company said it’s working closely with the ASX to satisfy its compliance conditions with reinstatement to official quotation anticipated for January 18, 2022.

The company also said its diamond exploration activities are scheduled to commence upon reinstatement to the ASX.

Meanwhile Dr Catriona Wallace and Mr Phillip Coulson will resign upon completion of the transaction as Executive Director and Non-Executive Director effective January 17 2022.

Shares were in the grey at 0.5 cents at market close.

FGO by the numbers
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