Red Mountain Mining Ltd (AU:RMX) has released an update.
Red Mountain Mining Ltd has successfully raised capital by issuing 400 million new shares to sophisticated investors, generating $400,000 in gross proceeds. Additionally, 50 million shares were allocated to service providers, and 100 million options were issued to the placement’s lead manager. These securities were issued under an exemption, facilitating their immediate secondary trading without prior disclosure to investors.
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