PERTH (miningweekly.com) – ASX-listed junior Auris Minerals will raise A$2.5-million through a share placement to fund exploration in the Bryah basin.
The company will issue 36-million new shares at 7c each to sophisticated investors, with purchasers to receive free attaching options for every share purchased.
The first tranche of the placement options can be exercised at 8c each, on or before the end of September, in exchange for one fully paid ordinary share in Auris, while the second tranche placement options can be exercised at 12c each, on or before June next year.
Both the share placement and the options will be issued under the company’s existing capacity, and as such will not require shareholder approval.