M3 Mining Limited (ASX:M3M) has received firm commitments for a capital raising of approximately $2.2 million via a two- tranche share placement,
Placement
The company will place 37,244,987 fully paid ordinary shares at $0.06 per share to raise approximately $2.2 million (before costs) pursuant to the placement, with sophisticated and professional investors.
Funds raised from the placement will be applied to fund exploration on the company’s projects, including the Edjudina Gold Project and the Victoria Bore Copper Project, as well as for general working capital and to pay the costs of the Placement and an allocation to review potential acquisitions.
CPS Capital Group is lead manager to the placement.
