Nex Metals Explorations Ltd (ASX:NME) Capital Raising Update
Capital Raising Details
Nex Metals Explorations Ltd (“NEX”) has successfully completed a capital raise of $1,059,453. The funds have been sourced from sophisticated investors qualifying under s708 of the Corporations Act 2001 (Cth). A total of 39,238,330 fully paid ordinary shares have been issued at an adjusted price of $0.027 per Share.
Adjustments to Previous Commitments
The capital raise replaces a prior commitment announced on 11 September 2024 for $1,530,000, which was not fully realised. NEX has decided to disregard incomplete commitments and has repriced the raise. A new Appendix 3B will address these changes.
Future Use of Funds
Funds raised will be used to explore development options for the Kookynie Tailings Project, contribute to joint venture expenditures, cover working capital, and pursue potential acquisition opportunities. The settlement of the placement is scheduled for today, 14 January 2025.
Motley Fool contributor Abbie Stokes 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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