* Subscriptions from cornerstone investors for $2.95 million worth of shares at 6.2 cents received and will be settled shortly
* MinRex pursuing the balance of cornerstone funds per binding firm commitment letters received in April 2022
MinRex Resources Limited (ASX: MRR) (“MinRex” or “the Company”) provides an update in relation to its $13.5 million capital raising announced on 21 April 2022 (Placement), further to its announcement on 26 May 2022.
The Placement was to raise $13.5 million by the issue of shares at 6.2 cents each, together with a 1:2 free attaching options (ex. 10 cents, 2 yr term), over two tranches. Tranche one was completed on 28 April 2022 ($6.7 million) and the balance was anticipated for completion in early June ($6.8 million). The second tranche is comprised of a cornerstone group of investors which includes executives of Chinese and Australian mining groups involved in exploration, development, refining and processing of precious and battery metals.
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