New Frontier Minerals Issues Cleansing Notice and Appendix 3G
Why we think this is neutral
This RNS announcement is a routine regulatory update regarding the completion of a share placement and the issuance of new shares. It does not contain any significant business updates or financial information that would significantly impact the company's performance or outlook.
Key Points
- Completed a share placement, raising $1.59 million
- Issued 142,204,543 new ordinary shares at $0.011 per share
- Issued 3,000,000 shares at $0.011 per share for marketing and investor relations services
Summary
The explorer has completed a share placement, raising gross proceeds of $1.59 million, and issued additional shares for marketing and investor relations services.
New Frontier Minerals Limited (LSE and ASX: NFM) has completed a share placement, raising gross proceeds of $1.59 million. The company issued 142,204,543 new ordinary shares at a subscription price of $0.011 per share to professional and sophisticated investors. Additionally, the company has issued 3,000,000 shares at a deemed price of $0.011 per share in lieu of cash for marketing and investor relation services.
GENERAL UPDATE