- Nex Metals Exploration (NME) has launched its share purchase plan (SPP) with aims to raise $4.265 million
- Eligible shareholders will be able to apply for up to $30,000 worth of new shares without incurring brokerage or transaction costs
- Nex Metals will use the money for the Kookynie Gold Project and the Cosmopolitan gold mine
- The share purchase plan will close on October 27 and shares will be issued and begin trading on the ASX on November 2
- Nex Metals has dropped 15.3 per cent and shares are currently trading for 6.1 cents each
Nex Metals Exploration (NME) has launched its share purchase plan (SPP) with aims to raise up to $4.265 million.
Eligible shareholders will be able to apply for up to $30,000 worth of new shares without incurring brokerage or transaction costs.
Shares will be issued at 5.9 cents, representing an 18.03 per cent discount to the company’s closing price on October 1 of 7.2 cents and a 10 per cent discount to the five-day volume-weighted average price.
“On behalf of the Directors, I am pleased to offer eligible shareholders the opportunity to participate in the SPP offer,” Chairman Tom Percy QC said.
Nex Metals has already completed a $2.44 million placement and will use the funds for the Kookynie Gold Project and the Cosmopolitan gold mine.
Both Kookynie and Cosmopolitan are farm-in projects held with fellow ASX-lister Metalicity (MCT).
The share purchase plan will close on October 27 and shares will be issued and begin trading on the ASX on November 2.
Nex Metals has dropped 15.3 per cent and shares are trading for 6.1 cents each at 1:35 pm AEST.