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Northern Minerals completes institutional raise

12th June 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Rare earths developer Northern Minerals has completed the institutional component of its previously announced A$22-million capital raise.

The company on Wednesday said that it had raised an initial A$2.6-million through the institutional component of its 1-for-13 non-renounceable pro-rata entitlement offer.

Some 59.1-million new shares were offered to eligible institutional shareholders at a price of 4.5c each.

The retail component of the entitlement offer, which is expected to raise a further A$6-million, will close on July 8, with Northern Minerals also having raised A$15-million through a share placement to sophisticated investors.

Edited by Creamer Media Reporter

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