Advance Metals Raises AU$13 Million via Placement; Shares Hit 52-Week High
MT Newswires Live
Oct 03, 2025
Advance Metals (ASX:AVM) has received firm commitments to raise AU$13 million via a placement of 129.9 million shares at AU$0.10 per share, to institutional and sophisticated investors, according to a Friday filing with the Australian bourse.
The offer price represents a 28% premium to the company's 20-day volume-weighted average price.
Participants will also receive one free attaching option expiring two years from the date of issue, for every two new shares subscribed for at AU$0.15, the filing said.
Proceeds will be used to fund drilling at the company's projects and for general working capital, the filing added.
Shares of the company rose 29% on market close and earlier hit a 52-week high.
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