Aeris Resources (ASX:AIS) is raising up to $90 million in a financing offer, including $80 million from an institutional placement to fully repay its $40 million loan facility with Washington H. Soul Pattinson (WHSP).
The company will issue 177.8 million shares at an issue price of $0.45, representing a 16.6% discount to the five-day volume weighted average price of $0.54 per share.
Bell Potter Securities and Ord Minnett acted as joint lead managers, along with Morgans Corporate as co-manager and Bell Potter acting as sole bookrunner.
Placement shares will be allotted on 6 November 2025.
Meanwhile, the company is also launching a $10 million share purchase plan, bringing the total funds raised up to $90 million.
Along with repaying its WHSP debt, proceeds will be used to fund drilling at the Golden Plateau and Southern Vein Field prospects within the Cracow mining operations.
Over at the Tritton Copper Operations, the company will streamline early works at the Constellation deposit to de-risk development and conduct resource extension drilling across the greater project.
Aeris, which has a market capitalisation of $505.13 million, will open the share purchase plan to eligible shareholders, allowing them to subscribe for up to $30,000 worth in shares, valued at the same issue price.
The plan is expected to open on 6 November, before closing on 2 December at 5pm AEDT.
As reported by Mining.com.au, the company recently entered a binding agreement with Dingo Minerals to sell its copper assets, receiving environmental bonds worth $6.5 million, between $4 million to $5 million in cash on completion, and a deferred cash payment of $3 million.
Write to Maddison Elliott at Mining.com.au
Images: Aeris Resources
