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0.1¢ mount ridley mines limited

Ann: Application for quotation of securities - MRD, page-4

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549 Posts.

44

05/10/21

08:34

Post #: 56561297
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Originally posted by Ddog157: ↑

Was a placement from RM investors to Mount Ridley Mines for the total of approx $1.7m. To raise that amount, RM have been issued 436,103,136 ordinary shares at $0.004. The ordinary shares were issued last Thursday. The investors can also purchase options on a 1 for 1 basis at at cost of $0.005. They have until the end of 2025 to do this.

A royalty payment of 6% ( 26, 166,185 shares) was also paid to RM as part of the agreement. Funds will be used for drilling and exploration purposes of the REE project as stated in the announcements.

Hope that helps

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thanks heaps, I understood re RM and most of what I thought was correct with the way I read those announcements what threw me is part 2.3a where I think it reads the other way around.

MRD Price at posting: 0.7¢ Sentiment: Buy Disclosure: Held
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