Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Firm”) is happy to advise that it has obtained agency commitments to boost $1.15M by way of a Share Placement pursuant to Part 708 of the Firms Act (Cth).
Highlights
- Agency commitments obtained to boost $1.15M by way of a share placement at a difficulty value of $0.025 (2.5 cents) which represents a ten.7% low cost to the final closing value.
- Placement supported by new and present shareholders
- Exploration actions on Damaged Hill copper – cobalt targets to be accelerated following receipt of placement funds
The proceeds of the share placement can be used to speed up exploration of copper – cobalt targets on the Firm’s 100% – owned Damaged Hill Mission and supply for basic working capital.
Commenting on the Placement, Rimfire’s Managing Director Mr David Hutton mentioned: “We’re grateful for ongoing shareholder assist on this placement by new and present shareholders.
Together with funding from our scandium exploration companion – GPR, these placement funds will underpin a busy second half to the 12 months, with maiden scandium JORC Assets deliberate for the Melrose and Murga scandium prospects, additional metallurgical work for Melrose in addition to diamond drilling of the Bald Hill copper – cobalt prospect at Damaged Hill”.
Placement Particulars
The position contains the difficulty of a complete of 45,800,000 totally paid odd shares at a difficulty value of $0.025 (2.5 cents) per share, elevating $1.15M to stylish traders eligible below part 708 of the Firms Act (Cth).
The difficulty value of the present placement represents a ten.7% low cost to the closing share value on 28 June 2024 and a 150% premium to the difficulty value of the Firm’s final placement (see Rimfire’s ASX Announcement dated 14 December 2023).
As well as, 15,266,665 free attaching unlisted choices are being issued on a one (1) for 3 (3) foundation, being one (1) free attaching unlisted possibility for each three (3) new shares subscribed for and issued below the location with an train value of $0.05 (5 cents) every, and an expiry date of 31 December 2025.
The 45,800,000 placement shares can be issued below Rimfire’s present ASX Itemizing Rule 7.1A placement capability and the 15,266,665 unlisted choices can be issued below Rimfire’s present ASX Itemizing Rule 7.1 placement capability.
The brand new shares will rank equally with present Rimfire totally paid odd shares quoted on the ASX.
Settlement of the location is anticipated to happen on or about Monday eighth July 2024 and shortly thereafter the Firm will make an utility to the ASX in search of citation of the location shares.
Click on right here for the total ASX Launch
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