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Miramar Resources Limited (ASX:M2R, “Miramar” or “the Company”) is pleased to advise that the non- renounceable rights issue (Entitlement Offer) announced on 21 June 2024 has raised $1.58 million (before costs).
- Non-renounceable rights issue raises $1.58 million
- Miramar receives JMEI Credit allocation of up to $450,000
- Preparing for maiden drilling programme at Bangemall Ni-Cu-Co-PGE Projects
The Company will issue 197,389,780 Shares and 316,520,426 Options exercisable at $0.018 each expiring three (3) years from the issue date following the completion of the Entitlement Offer (Options). Subject to satisfying the Listing Rule requirements, the Options will be quoted under the ASX code M2ROA.
Separate to the Entitlement Offer, the Company will issue 119,130,646 Options applied for under new options offer pursuant to the Prospectus (New Options Offer).
Funds raised from the Entitlement Offer will primarily be used for upcoming exploration programmes at the Company’s 100%-owned Bangemall Ni-Cu-Co-PGE projects in the Gascoyne regions of WA, the 80%- owned Gidji JV Project near Kalgoorlie, and for other exploration and corporate activities.
Miramar’s Executive Chairman, Mr Allan Kelly, thanked existing and new shareholders who participated in the Entitlement Offer, supporting the Company’s exploration plans across its various projects.
The results of the Entitlement Offer and New Options Offer are set out below:
The Shares and Options are expected to be issued on Thursday, 26 July 2024, in accordance with the updated timetable.
Further details of the Entitlement Offer and New Options Offer can be found in the prospectus dated 21 June 2024.
JMEI Credits Granted
Miramar is pleased to announce that it has been advised by the Australian Taxation Office (ATO) that its JMEI application for the 2024/2025 financial year has been accepted and the Company has received an allocation of up to $450,000.
Click here for the full ASX Release
This article includes content from Miramar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
M2R:AU
