Outcomes of Share Purchase Strategy

Ionic Rare Earths Limited (ASX: IXR) (” IonicRE” or “the Business”) is delighted to encourage outcomes of the Business’s Share Purchase Strategy (” SPP”), as revealed on 20 November 2023. The SPP closed at 2.00 pm (AWST) on Friday, 15 December 2023.

The SPP followed the effective conclusion of:

1. a positioning of 261,904,762 completely paid common shares at a rate of $0.021 to raise $5,500,000;

2. a dedication from Mr. Sufian Ahmad, a director of the Business, to subscribe for 19,047,617 completely paid common shares at $0.021 to raise an additional $400,000, based on getting approval at a General Fulfilling of Investors to be held early in 2024.

( together, “the Placements”)

The SPP offered qualified investors with the chance to subscribe for approximately $30,000 worth of brand-new completely paid common shares at a deal rate of $0.021 per share, being the very same rate as the Placements.

The Business got legitimate applications for 62,499,906 brand-new completely paid common shares under the SPP raising roughly $1,312,500 with a deficiency of roughly $687,500. Mr Tim Harrison, the Business’s Handling Director, used up his complete privilege of shares under the SPP.

Shares made an application for under the SPP will be allocated and provided today, Friday 22 December 2023. The Business wants to thank investors who supported the SPP.

Click On This Link for the complete ASX Release

This post consists of material from Ionic Rare Earths, accredited for the function of publishing on Investing News Australia. This post does not make up monetary item recommendations. It is your duty to carry out correct due diligence before acting on any info offered here. Please describe our complete disclaimer here

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