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RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2024
Apr 16, 2024
65719_rns_2024-04-16_d81fea8e-08f3-4de5-a214-130867558729.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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17 April 2024
EXTENSION TO ENTITLEMENT OFFER CLOSING DATE
Red Mountain Mining Ltd (ASX: RMX) ( Company ) refers to its pro-rata non-renounceable entitlement issue of one (1) Share for every three (3) Shares held by those Shareholders registered at the Record Date at an issue price of $0.001 per Share together with one (1) free New Option for every two (2) Shares applied for and issued to raise up to approximately $891,192 (based on the number of Shares on issue as at the Record Date) ( Offer ) as detailed in the Company’s prospectus lodged with ASIC on 26 March 2024.
To ensure Eligible Shareholders have adequate time to participate, the Board has resolved to extend the closing date for its Offer by two (2) weeks to 5:00pm (AWST) on Monday, 6 May 2024.
Capitalised terms not otherwise defined in this announcement have the meaning given to those terms in the prospectus.
Revised Indicative Timetable
The revised indicative timetable is set out below:
| Event | Date |
|---|---|
| Announcement of Offer and lodgement of Appendix 3B with | Friday, 22 March 2024 |
| ASX | |
| Lodgement of Prospectus with ASIC and ASX and lodgement of | Tuesday, 26 March 2024 |
| updated Appendix 3B with ASX | |
| Ex date | Friday, 5 April 2024 |
| Record Date for determining Entitlements | Monday, 8 April 2024 |
| Offer opening date, Prospectus sent out to Shareholders and | Thursday, 11 April 2024 |
| Company announces this has been completed | |
| Last day to extend the Closing Date | Wednesday, 1 May 2024 |
| Closing Date (5:00pm WST)* | Monday, 6 May 2024 |
| Securities quoted on a deferred settlement basis | Monday, 7 May 2024 |
| ASX and Underwriter/Sub-Underwriter notified of under | Wednesday, 8 May 2024 |
| subscriptions | |
| Underwriter subscribes for Shortfall under terms of | Wednesday, 8 May 2024 |
| Underwriting /Sub-Underwriting Agreement | |
| Issue date and lodgement of Appendix 2A with ASX applying | By no later than Friday, 10 May 2024 |
| for quotation of the Securities | (before noon Sydney time) |
| Quotation of Securities issued under the Offer | By no later than Friday, 10 May 2024 |
| (before noon Sydney time |
Notes:
- The Directors may extend the Closing Date of the Offers by giving at least three (3) Business Days’ notice to ASX prior to the Closing Date. As such the date the Securities are expected to commence trading on ASX may vary.
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This announcement is authorised by the Board of Red Mountain Mining Ltd
For further information contact:
About Red Mountain Mining Ltd
Red Mountain Mining Limited is an ASX-listed (ASX: RMX) mineral exploration and development company. Red Mountain has a portfolio of critical minerals including lithium, rare earth and gold projects, located in the USA and Australia. The Company’s flagship project is based in Nevada USA, prospective for lithium claystone mineralisaton. The Company’s other projects include the Monjebup Rare Earths Project and the Koonenberry Gold Project.