Rimfire Pacific Mining Ltd (ASX:RIM) Secures $1.65m Option Underwriting
Underwriting Agreement Details
Rimfire Pacific Mining (ASX: RIM) has entered into an Underwriting Agreement with Euroz Hartleys Limited for its unlisted options set to expire on 28 February 2025. The company has 82,333,332 options, enabling the acquisition of fully paid ordinary shares at an exercise price of $0.02 each, which could raise $1.65 million upon full exercise. Euroz Hartleys will serve as the sole underwriter for any options not exercised prior to their expiry.
Executive Comments
Managing Director David Hutton commented, “Having the options underwritten provides a level of certainty as to the receipt of funds and strengthens the cash position of the Company as we plan and commit to active exploration programs across our critical minerals projects in Q1 2025.” He further expressed the company’s commitment to developing a significant scandium resource inventory in central New South Wales, which is considered a key area for scandium.
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