It's a new Placement share issue (i.e. in addition to the recently completed RI CR). This one raised another $700k using the existing new share issuance headroom capacity. The details of this Placement were included in this morning's $1.1M raising announcement (i.e. ~$400k placement relating to residual shortfall from the recently closed RI CR + $700k additional (new) placement to sophs and instos).
A combined ~$5.3M (gross) raised between the recent RI and this one which should buy them some time until the next one.
PS. There's likely, imo, to be some selling overhang over the near-term as the pros nuance the exit of their placement holdings for free-carry of the 20c 'blue sky' oppies.
EM2 Price at posting:
6.3¢ Sentiment: None Disclosure: Not Held
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