Andromeda Metals raises $30 million in heavily supported placement and launches $15 million SPP
The placement, together with the SPP, will provide Andromeda with funds to meet its share of long lead time processing plant equipment purchases for the Great White Kaolin Project.
Strong support was received from new and existing institutional and professional/sophisticated investors.
Andromeda Metals Ltd (ASX:ADN) has completed a bookbuild process to raise $30 million before costs through a strongly supported placement of new shares to institutional and professional/sophisticated investors
The placement, together with a newly launched share purchase plan (SPP) capped at $15 million, will provide Andromeda with funds to meet the company’s share of long lead time processing plant equipment purchases for the Great White Kaolin Project JV with Minotaur Exploration Ltd (ASX:MEP).