Eagle Mountain Secures AU$1.66 Million Placement and Launches AU$1.9 Million Rights Issue
Eagle Mountain Mining Limited (ASX: EM2) has received firm commitments to raise AU$1.66 million through a placement of 183.9 million new shares at AU$0.009 per share, with one free attaching option for every three shares. The placement, backed by both existing and new sophisticated investors, represents a 12.5% premium to the 10-day VWAP and an 11% discount to the 30-day VWAP.
In addition, the Company will undertake a non-renounceable rights issue to raise approximately AU$1.9 million, offering one new share for every six held at AU$0.009 per share, with identical attaching options exercisable at AU$0.02 until 30 November 2028. Prenzler Group Pty Ltd and Alto Capital will act as Co-Lead Managers, receiving 6% of funds raised and 30 million options subject to shareholder approval. Combined proceeds of AU$3.6 million will fund exploration at the Silver Mountain Project, business development, working capital, and offer costs, while advancing strategic initiatives with Nittetsu and potential asset acquisitions.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Eagle Mountain Secures AU$1.66 Million Placement and Launches AU$1.9 Million Rights Issue
Eagle Mountain Mining Limited (ASX: EM2) has received firm commitments to raise AU$1.66 million through a placement of 183.9 million new shares at AU$0.009 per share, with one free attaching option for every three shares. The placement, backed by both existing and new sophisticated investors, represents a 12.5% premium to the 10-day VWAP and an 11% discount to the 30-day VWAP.
In addition, the Company will undertake a non-renounceable rights issue to raise approximately AU$1.9 million, offering one new share for every six held at AU$0.009 per share, with identical attaching options exercisable at AU$0.02 until 30 November 2028. Prenzler Group Pty Ltd and Alto Capital will act as Co-Lead Managers, receiving 6% of funds raised and 30 million options subject to shareholder approval. Combined proceeds of AU$3.6 million will fund exploration at the Silver Mountain Project, business development, working capital, and offer costs, while advancing strategic initiatives with Nittetsu and potential asset acquisitions.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au