Ausmon Resources (ASX:AOA) said it aims to raise up to AU$540,000 by offering up to 300 million fully-paid ordinary shares to eligible shareholders at AU$0.0018 per share, according to a Tuesday Australian bourse filing.
The proceeds from the fundraising will be used for reducing borrowings and accounts payable, exploration, and general working capital.
The share purchase plan is not underwritten.
If the firm does not raise AU$540,000 under the plan, the firm's directors reserve the right to issue shares to investors at their absolute discretion.
Eligible shareholders as of the record date of Monday, Feb. 17, can apply for up to AU$30,000 worth of shares without incurring brokerage or other transaction costs.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.