Neometals Ltd (AU:NMT) has released an update.
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Neometals Ltd has announced a capital raising strategy to generate up to $9 million through a non-renounceable entitlement offer and a private placement. The entitlement offer allows existing shareholders to maintain their proportional ownership by purchasing new shares, with a top-up facility for unsubscribed shares. The capital raised will dilute current shareholdings, but is not expected to significantly alter the company’s control structure.
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