EQ Resources (ASX:EQR) raised AU$1.77 million through its share purchase plan (SPP), below its AU$3 million target, according to a Friday filing with the Australian bourse.
The company will issue about 50.6 million new shares at AU$0.035 per share, with allotment expected on June 23, the filing said.
The SPP will help fund capital projects, as well as reduce debt and bolster working capital, the filing added.
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