Andromeda successfully raises $3.04 million

Key points

• Andromeda Metals raises $3.04 million via SPP and placement
• Funds to support HPA Project and general working capital
• 342 shareholders participated in the SPP
• Shares to be quoted on ASX from 7 September 2026

Full summary

Andromeda Metals Limited (ASX: ADN) announced the successful raising of $3.04 million before costs through its Share Purchase Plan (SPP) and placement of ordinary shares. The SPP, targeting approximately $3 million, attracted 342 shareholders, raising $2.94 million. An additional $102,000 was raised by accepting certain applications under the Corporations Act 2001, bringing the total to $3,044,576. These funds will advance the High Purity Alumina (HPA) Project and cover general working capital. Shares will be quoted on ASX from 7 September 2026.