Juno Minerals (ASX:JNO) is conducting a pro-rata non-renounceable entitlement offer to raise up to $3.6 million.
The $15 million market capitalisation company says the offer comprises 1 new share for every 3 shares held by existing eligible shareholders registered on 28 September 2023 at an issue price of $0.08 per share.
GBA Capital has been appointed as lead manager of the offer. GBA will be paid 6% on funds raised under the shortfall facility and will be issued 2 million unlisted options.
Funds raised will be put towards advancing the lithium prospectivity south of the company’s Mount Ida Magnetite Project, exploration costs associated with the project and the Mount Mason DSO Hematite Project, as well as general working capital.
Eligible shareholders include those registered in Australia, New Zealand, the United Kingdom, South Africa, Cayman Islands, Netherland, People’s Republic of China, Guernsey and Jersey.
The offer is not underwritten and there is no minimum subscription.
Juno minerals is an ASX-listed independent mining company, based in Perth, Western Australia. The company has 2 iron ore development projects in the Yilgarn region of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Juno Minerals
