Almonty Industries to Raise AU$6 Million via Equity Placement

MT Newswires Live2024-12-23

Almonty Industries (ASX:AII) received firm commitments to raise about AU$6 million via the placement of 2 million Canadian units and 4.6 million placement Chess Depository Interests units (CDI) at CA$0.82 per Canadian unit and AU$0.90 per CDI unit, respectively, according to a Monday filing with the Australian bourse.

Canadian units and CDI placement unit participants will receive one warrant for every common share issued and one free unlisted option for every CDI issued, exercisable at CA$1.14 and AU$1.25, respectively, with an expiry date of three years, the filing said.

Proceeds will be used for the company's balance sheet restructuring and offer costs, according to the filing.

The miner's shares shed more than 1% in afternoon trade Monday.

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