Minbos Resources received commitments for a placement to raise AU$25 million

Minbos Resources Limited (ASX: MNB) announced that it had received firm commitments from professional, institutional, and sophisticated investors, including participation by the company’s directors and management team, to raise AU$25 million via the placement. The placement comprised the issue of 227,272,728 shares at an issue price of AU$0.11 per share. The issue price of AU$0.11 represents an 18.5% discount to the last traded share price and a 22.1% discount to the 5-day VWAP prior to the placement.

The funds raised through the placement will be paired with a number of important strategic agreements, including a Strategic Cooperation Agreement to collaborate on Ferro Phosphate and Lithium Ferro Phosphate Projects and Large-scale Green Ammonia Projects and a non-binding debt term sheet for US$25 million.

Use of Proceeds: CAPEX for Cabinda Phosphate Project, mining and fertilizer plant.

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