Australian heavy rare earths producer Northern Minerals (ASX: NTU) has announced that, further to recent announcements in relation to its $30 million placement, it has received a further $200,000 in subscription funds.
Accordingly, the Company has issued 3,225,806 shares to the relevant subscribers, all of which have been issued with shareholder approval for the purposes of Listing Rule 7.1 (obtained at the Company’s AGM on 13 November 2019).
The total amount raised to date under the Placement is approximately $25.7 million (before costs).
The balance of approximately $4.3 million in subscription funds were not received by the due date of 31 December 2019 but the Company has subsequently agreed to extend the completion date for those subscribers to 31 January 2020.
