Nimy Resources Limited: Secures AU$2.5 million Cornerstone Investment

Nimy Resources Limited (ASX: NIM) has successfully secured a significant AU$2.5 million cornerstone investment from Lind Global Fund II, LP, an institutional fund managed by Lind Partners based in New York. The investment will be provided in stages, with an initial amount of AU$1.75 million to be delivered within five days, followed by the remaining balance contingent on shareholder approval. The placement spans up to 24 months, with the price set at AU$0.208 cents for the first four months and subsequently determined by either the fixed price or calculated VWAP subscription price.

The funds will facilitate Nimy's crucial Nickel and Lithium drilling initiatives at the Mons project located in North-East Perth, WA. For Nickel, plans include RC Drilling targeting high conductance anomalies for nickel massive sulphides, with Downhole Electromagnetic surveys commencing in late August. In the Lithium domain, a program for RC Drilling has been proposed, aimed at high-grade lithium. Recent successful drilling outcomes have paved the way for targeting priority locations through meticulous soil sampling and Hyperspectral data confirmation, concentrating efforts on the fruitful LCT Pegmatites.

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