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- Javelin Minerals (JAV) aims to raise $500,000 through a share purchase plan (SPP) to fund exploration activities on its Coogee, Mt Ida and Bonaparte projects in 2022
- Shares under the SPP will be offered at the same price of the placement at 0.1 cents each
- Javelin aims to issue 500 million new shares, representing 7.5 per cent of the current issued capital
- All shareholders will be able to subscribe for up to $10,000 worth of shares with no brokerage or commission costs
- Shares were trading flat today at 0.2 cents
Javelin Minerals (JAV) aims to raise $500,000 through a share purchase plan (SPP) to fund exploration activities on its Coogee, Mt Ida and Bonaparte projects in Western Australia in 2022.
The SPP follows a recently completed placement, where the company raised $1.96 million.
Shares under the SPP will be offered at the same price of the placement at 0.1 cents each. This is a 50 per cent discount to the last closing price before the placement was announced.
Javelin aims to issue 500 million new shares, representing 7.5 per cent of the current issued capital.
However, the company can use its discretion to accept more or less applications.
All shareholders will be able to subscribe for between $2,000 and $10,000 worth of shares with no brokerage or commission costs.
The SPP is subject to shareholder approval, which will be sought towards the end of April.
The SPP will close on April 22 with shares issued on April 29.
Shares were trading flat at 0.2 cents each at 2:34 pm AEDT.
