ABx Group (ASX: ABX) is providing shareholders with the opportunity to participate in a Share Purchase Plan to raise up to $500,000
Shareholders can purchase shares totalling up to $30,000. Shareholders will also be able to apply, pursuant to a prospectus to be issued by the Company, for one Free-Attaching Option for every two shares applied for by them under the SPP Offer.
Directors that hold shares have indicated that they will be participating at the maximum level permissible.
The SPP follows ABX Group’s successful placement completed in September which raised $1.5 million before costs of the Placement.
Shares issued under the SPP will rank equally with existing shares.
The funds raised from the Share Purchase Plan will be applied to advance the ABX Group’s rare earth elements project and for Working Capital. The ABx rare earths resource in Tasmania is a true ionic adsorption clay deposit. Desorption tests conducted by ANSTO found that the ABx deposit has the highest extractions under relatively neutral conditions reported from any clay- hosted rare earth deposit in Australia.
