Evolution Mining (ASX:EVN) has extended a previously announced share purchase plan (SPP) to raise up to $60 million, from 16 January to 30 January 2024.
The $7.36 billion market capitalisation company will be using the funds raised to partly fund the acquisition of an 80% interest in the Northparkes Copper-Gold Mine from CMOC Group (SHA:603993) for a total cash consideration of up to US$475 million.
Evolution says the extension will allow sufficient time for all eligible shareholders to participate and complete applications following the Christmas and New Year holiday period.
Eligible shareholders participating in the SPP will be able to purchase shares up to $30,000 at $3.80 per share — which is the same price paid by institutional investors under the placement previously reported.
The price represents a 2.5% discount to the 5-day volume weighted average price (VWAP) of shares traded on the ASX up to the revised SPP closing date.
Evolution Mining is a gold miner that operates 5 wholly owned mines in New South Wales, Western Australia, Queensland, and Ontario, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Evolution Mining
