Resolution Minerals Ltd: At-the-Market Raise and Increase in Collateral Shares
![Resolution Minerals Ltd: At-the-Market Raise and Increase in Collateral Shares](https://www.minenportal.de/media/goldseiten-news.jpg)
The 11,100,000 Resolution Minerals shares will be issued as approved by shareholders at the Company's Annual General Meeting held on 11 November 2021. The issue price of $0.0253 represents a premium of approximately 31% to the Company's 15 trading day VWAP to 11 November 2021 (inclusive). The funds raised will be put towards further exploration and working capital.
In addition, RML has agreed with Acuity Capital to increase the shares held as security by Acuity Capital under the ATM to a total of 32,000,000 through the issue of an additional 10,000,000 shares as approved by shareholders at the Company's Annual General Meeting held on 11 November 2021 ("Collateral Shares"). This increase in Collateral Shares in required to ensure that the level of security held by Acuity Capital is commensurate with the size of the ATM. The Company may at any time cancel the ATM, including buying back and cancelling the Collateral Shares for nil cash consideration (subject to shareholder approval). Note that there were no fees or costs associated with the change in Collateral Shares held.
About Resolution Minerals Ltd:
Resolution Minerals Ltd. (ASX:RML) is a mining company engaged in the acquisition, exploration and development of precious and battery metals - such as gold, copper, cobalt, and vanadium.
The company is led by Managing Director Duncan Chessell and an experienced team with proven success in corporate finance, marketing, metallurgy and geoscience. This equips Resolution Minerals with the tools to meet the changing demands of the mining markets.
Resolution Minerals Ltd. Listed on the ASX in 2017 with a focus on the exploration of the Wollogorang Copper Cobalt Project. It has since aquired the Snettisham Vanadium Project and more entered into a binding agreement witth Millrock Resources to earn up to 80% of the highly prospective 64North Gold Project.
Source:
Resolution Minerals Ltd.
Contact:
Duncan Chessell Managing Director duncan@resolutionminerals.com Julian Harvey Investor Relations j.harvey@resolutionminerals.com