Red Mountain Mining Limited (ASX:RMX) (the, Company or RMX) is pleased to announce that it has received firm commitments from institutional and sophisticated investors to raise $1.6 million (before costs) via a share placement of 177,905,556 fully paid ordinary shares at an issue price of $0.009 per share (“Placement”).The Placement shares will be placed in accordance with the Company’s available placement capacity pursuant to Listing Rule 7.1 and 7.1A, comprising:a. 35,745,440 shares under the Company’s Listing Rule 7.1 15% placement capacity; andb. 142,160,116 shares under the Company’s additional Listing Rule 7.1A placement capacity.The issue of the Placement shares is expected to be on or around 4 February 2022.The issue price represents a 19% discount to the 15-day VWAP (Volume Weighted Average Price) immediately prior to the raising. The shares issued under the Placement will rank equally with existing
RMX Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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