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Aeon eyes near A$20m capital raise

9th May 2022

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – ASX-listed Aeon Minerals will raise A$7.2-million in a share placement to sophisticated and professional investors to support exploration at its Walford Creek base metals project, in Queensland.

The share placement, which will be priced at 4c a share, will be undertaken in two tranches, with the first 76.95-million shares expected to raise over A$3.07-million under the company’s existing placement capacity.

Subject to shareholder approval, Aeon will issue a further 102.29-million shares, to raise a further A$4.09-million.

The issue price represented an 11.1% discount to Aeon’s last closing price on the ASX and a 15.8% discount to its five-day volume weighted average share price.

Each tranche of the placement will also attract a loyalty option, subject to shareholder approval.

In addition to the share placement, the junior company is also undertaking a one-for-three non-renounceable pro-rata entitlement offer to raise up to A$12.5-million and will issue up to 314.2-million new shares at the same price as the share placement.

The rights offer is expected to close on May 26.

Major shareholder OCP Group has informed Aeon that it will invest A$4-million in the capital raise.

Edited by Creamer Media Reporter

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