During the quarter, QMines received firm commitments to raise $6,000,000 (before costs) by way of a two-tranche placement. The Company issued 85,197,743 fully paid ordinary shares at $0.045 per share raising $4m in February. The second tranche was subject to shareholder approval.
The 85,197,743 tranche one Shares were issued within the Company’s existing 15% placement capacity under ASX Listing Rule 7.1 and 10% placement capacity under ASX Listing Rule 7.1A totaling 50,885,512 shares and 34,312,231 shares respectively.
At the General Meeting held on 28th April 2025, Resolution 3, which sought shareholder approval for the issue of the tranche two shares, was not approved. Accordingly, the tranche two shares will not be issued.
QML Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
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