Eagle Mountain Mining Limited (ASX:EM2) Issues Over 518 Million New Shares and Options
Securities Issuance
Eagle Mountain Mining Limited (ASX:EM2) confirmed the allotment and issuance of 518,597,672 new shares and 129,649,405 new options following the placement of the underwritten shortfall for its Renounceable Entitlement Offer.
Financial Details
The company issued 375,000,000 shares and 93,750,000 options to Silver Mountain Mining Nominee Pty Ltd to satisfy an unsecured loan of $3,000,000. The remaining underwritten shortfall raised an additional $1,148,781 before costs.
Options Terms
Additionally, Eagle Mountain issued 81,858,499 new options to sub-underwriters. These options are exercisable at $0.016 on or before 31 July 2027.
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