- Ausmon Resources (AOA) has announced the details of its capital raise, with the company planning to raise just over $711,000
- It’ll do this via a share purchase plan (SPP) and a placement, giving both shareholders and investors a chance to invest
- Shares under both the SPP and placement will be offered at a discount price of 0.75 cents each, with over 100 million shares to be issued
- The company is also offering a pro-rata distribution of the Junior Minerals Exploration Incentive (JMEI) credit for those participating
- Ausmon said it will use all of the fresh capital for exploration work within its NSW tenements and as working capital
- Shares in AOA ended the day trading steady at 0.8 cents each
Exploration company Ausmon Resources (AOA) has announced it plans to raise over $711,000 via a share placement plan (SPP) and placement.
The company first revealed it would tap investors and shareholders for fresh cash on Monday, when it entered a trading halt.
Ausmon has since announced the details of the cap raise, revealing shareholders are able to apply for $15,000 worth of new shares under the SPP.
Over 54 million shares are on offer under the plan, which closes on October 5, and should net around $411,000 for the company.
Ausmon also plans to raise $300,000 through a committed placement to investors, with the 40 million shares on offer already placed.
All of the new shares on offer under the SPP and placement are priced at 0.75 cents each, a 22.4 per cent discount on the five-day volume-weighted average price.
Additionally, Ausmon is offering participants in the capital raise a pro-rata distribution of its Junior Minerals Exploration Incentive (JMEI) credit.
But, the exact amount of the JMEI credit will be determined once the company has filed its 2021 tax return.
Ausmon plans to use the majority of the $711,000 raised on exploration work within its NSW tenements. The money will also go towards general working expenses.
Following the release of the fundraise details, shares in Ausmon have begun trading again.
The company ended the day flat, with shares worth 0.8 cents each.