Nimy Resources (ASX:NIM) Completes Successful Capital Raise
Nimy Resources Limited (ASX:NIM) has successfully completed a capital raise, securing $678,000 before costs through a bookbuild share placement. The company issued 11,300,000 shares at a price of 6 cents each to sophisticated and professional investors.
Use of Funds
The funds from this placement will facilitate ongoing exploration for gallium, copper, and other critical metals at the Mons Belt in Western Australia. Additionally, the capital will support general working capital purposes.
Luke Hampson, Executive Chairman of Nimy Resources, remarked, “The strong support from existing and new shareholders demonstrates the confidence investors have in the Company’s ongoing exploration activities across multiple commodities, most notably gallium and copper.” He also highlighted the recent agreement with CSIRO to commence a mineral indicator study at the Mons Belt as an exciting development for the company.
Placement Details
The placement results in the issuance of new fully-paid ordinary shares that rank equally with existing shares. The 6 cents issue price represents a 14.3% discount to the last closing share price of 7 cents on 6 December 2024. The shares are expected to be issued on or around 20 December 2024.
A capital raising fee of 6% (plus GST) will be paid to Charles Street Capital, who acted as the Lead Manager for the placement. Additionally, the Lead Manager will receive an unlisted options success fee contingent on the successful placement completion.
This announcement is designed to lift the current trading halt and has been authorised by the Board of Directors at Nimy Resources Limited.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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