Group 6 Metals Limited (ASX:G6M) announced that it had received binding commitments from new and previous investors to raise AU$20 million. The placement includes the issue of approx. 117,647,059 new shares at an issue price of AU$0.17 per new share. The issue price denotes a 10.5% discount to the last closed price of AU$0.19 per share.
The Placement has been strongly supported by previous shareholders, comprising those among the company’s top investors with AU$8.0 million in funds raised from the company’s top 4 shareholders. In addition to the placement, the company also announced a Share Purchase Plan, in which Eligible Shareholders will be offered the opportunity to participate to potentially raise approx. AU$3.0 million. Proceeds from the placement and SPP, will be used towards capital expenditure (AU$7 million) and pre-production costs (AU$6 million) at Dolphin, and for general working capital requirement (AU$7 to AU$10 million).
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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.
