Australian heavy rare earths producer Northern Minerals Limited (ASX: NTU) (Company) refers to its recent announcements in relation to the Company’s A$22 million placement (Placement) and confirms that on 15 September 2020 the Company issued 145,000,000 fully paid ordinary shares under the Placement to subscribers under the Placement (or their nominees).
The 145,000,000 shares issued relate to subscription funds received by the Company totaling A$2.9 million in respect of the balance of the remaining tranches of the Placement. This now completes the Placement in full.
Shareholder approval for the issue of shares under the Placement was obtained at the Company’s general meeting held on 18 June 2020. Please refer to the Notice of General Meeting released to ASX on 18 May 2020 for further detail.