Anax Metals Raises $10 Million Through Share Placement for Whim Creek Development
Anax Metals Limited has secured firm commitments to raise approximately $10 million through the issuance of 434.8 million new shares at $0.023 each. The placement, supported by institutional investors, will fund project development, debt repayment, and exploration efforts. Notable commitments include $1.34 million from Jetosea and $1.50 million from Gold Valley. Following the placement, Anax expects to strengthen its financial position ahead of final debt and off-take discussions for the Whim Creek Copper Project.
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Anax Metals Limited has announced a $10 million capital raising through a placement of approximately 434.8 million new shares at an issue price of $0.023 each. The placement, backed by institutional investors, aims to repay the Jetosea Loan B and fund project development activities, exploration, and working capital.
Jetosea and Gold Valley have committed $1.34 million and $1.50 million, respectively, to the offering. Following the placement, Anax anticipates a stronger financial position, facilitating debt and off-take discussions for the Whim Creek Copper Project. The placement is structured in two tranches, with the first tranche already utilizing existing placement capacity.
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