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Altura Mining Advises on Undertaking Financing Package to Raise A$28m

07 Feb 2019  |  10:34:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Altura To Undertake A$28 Million Financing Package

Altura Mining advised that it is undertaking a financing package to raise A$28m (before costs). The financing package comprises a placement to institutional and sophisticated investors to raise A$23m (Placement), and a Securities Purchase Plan (SPP) for existing eligible shareholders to raise up to a further A$5m. The funds raised will provide working capital buffer as the Company moves closer to achieving nameplate production capacity of 220,000tpa at the flagship Altura Lithium Project. The Placement of 184.09m FPO shares (New Shares) has been conducted at a price of A$0.13 per New Share.

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