* Firm commitments received for heavily oversubscribed $13.5 million capital raising at 6.2 cents with a 1:2 free attaching option (ex. $0.10, 2 yr term)
* $6.8 million cornerstone investment received from a strategic group of investors who are executives of Chinese and Australian mining groups involved in exploration, development, refining and processing of precious and battery metals
* MinRex now positioned to fast-track exploration activities, targeting 25,000m of drilling over its Pilbara Lithium-Tin-Tantalum Projects in the next 12 months and continued exploration of its other projects
MinRex Resources Limited (ASX: MRR) (“MinRex” or “the Company”) is pleased to announce it has received firm commitments for a $13.5 million capital raising (Placement) to underpin the acceleration of MinRex’s Pilbara LithiumTin-Tantalum exploration strategy and continued exploration of its other WA and NSW gold, precious and base metal projects.
The Placement was heavily oversubscribed and strongly supported by investors, including the introduction of a $6.8 million cornerstone group of investors who are executives of Chinese and Australian mining groups involved in exploration, development, refining and processing of precious and battery metals. The group includes some persons who were early-stage seed investors in Global Lithium Ltd (ASX:GL1).
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