IXR Completes $8.0 Million Placement
Key points
- Successful $8.0 million Placement supported by institutional investors
- $2.0 million strategic investment from Argentem Creek Partners
- Strong participation by IonicRE Directors of $500,000
Full summary
Ionic Rare Earths Ltd (ASX: IXR) has successfully completed a $8.0 million placement, supported by both domestic and international institutional investors. The placement includes a $2.0 million strategic investment from U.S.-based Argentem Creek Partners, a specialist investment firm with experience in critical minerals, technology, and industrial sectors. Additionally, IonicRE directors contributed $500,000. The placement will issue approximately 30.8 million new fully paid ordinary shares at $0.26 per share. The proceeds will be used to support the Belfast Plant commercialization, the Belfast Demonstration Plant, U.S. expansion, the Makuutu Rare Earths Project, and the Viridion joint venture. The company's management expressed confidence in the company's strategy, assets, and growth outlook.
Outlook
The company looks forward to delivering key milestones and creating long-term value for shareholders.
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