Media ReleasesMinRex Resources

View All MinRex Resources News

MinRex Resources - Placement Update

* 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.  

For more information, download the attached PDF.

Download this document

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.