- Rimfire Pacific (RIM) has raised $2.1 million to continue exploring the Lachlan Ford Belt in central NSW
- The company issued 168 million shares for 1.25 cents per share to professional and sophisticated investors
- Additionally, the company aims to raise a further $500,000 through a share purchase plan (SPP) at the same price as the placement
- Under the SPP, eligible shareholders will be able to purchase up to $30,000 worth of shares
- On market close for the weekend, Rimfire is down 20 per cent and is trading for 1.2 cents
Rimfire Pacific (RIM) has raised $2.1 million to continue exploring the Lachlan Fold Belt.
The company issued 168 million shares for 1.25 cents per share to professional and sophisticated investors. The new shares will be issued on or about Tuesday, September 29.
Additionally, the company aims to raise a further $500,000 through a share purchase plan (SPP) at the same price as the placement.
Under the SPP, eligible shareholders will be able to purchase up to $30,000 worth of shares.
Funds from the placement and SPP, will go towards the company’s projects in the Lachlan Ford Belt in New South Wales.
Managing Director, Craig Riley, is thankful for the strong support from investors.
“We are thankful for the strong support the Placement received from professional and sophisticated investors, and investors introduced through D H Flinders Corporate Advisory and another supporting Australian Financial Services Licence holder,” he said.
“The proceeds from the capital raising will ensure Rimfire is able to continue execution of our strategy to discover a large scale copper and gold or gold orebody within our Exploration Licences located in the exciting and very prospective Lachlan Fold Belt,” he concluded.
On market close for the weekend, Rimfire is down 20 per cent and is trading for 1.2 cents per share.