Blackstone Minerals (ASX:BSX) raised AU$600,000 by setting off 12.4 million collateral shares as part of its at-the-market subscription agreement with Acuity Capital, according to a Friday filing with the Australian bourse.
The set-off shares have a deemed price of AU$0.0485 apiece. Following the release, Acuity Capital no longer has collateral shares that it needs to return to Blackstone Minerals, the filing stated.
The mining company said the additional capital will ensure it is well funded amid its merger with IDM International.
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.