Raiden Initiates At-the-Market Finance Facility

Raiden Resources Limited (ASX: RDN) has successfully established an At-the-Market (ATM) Finance Facility in collaboration with 8 Equity Pty Ltd (Financier). This facility offers Raiden access to standby equity capital of up to AU$2 million over a 3-year period. Notably, Raiden maintains complete autonomy in deciding if and when to utilize the facility. The ATM arrangement enhances Raiden's financial flexibility, supporting the advancement of its Pilbara battery metal projects.

Key features of the facility include the company's sole discretion in issuing finance requests, specifying desired funds, minimum raise price, and request duration. The Financier will execute sales of shares based on the request, capped at 15% of daily trading volume. Upon sale, proceeds (minus costs) will be provided to Raiden. The company can cancel a request anytime. The Facility entails issuing 96 million shares as security (Advance Subscription Shares), subject to shareholder approval. After the term, remaining shares will be subject to various options, including cancellation, sale with proceeds to Raiden, or retention by the Financier at a negotiated price.

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