Venturex Resources will raise $4 million through a share placement with funds to be used to advance the company’s Sulphur Springs copper-zinc project, 150 kilometres south-east of Port Hedland.

The company was oversubscribed for the placement, which entails the sale of 222 million shares at 0.18 cents per share, a 10 per cent discount on the closing price on Wednesday.

Canaccaord Genuity and Euroz Secuties will act as joint lead managers for the placement.

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