Australian Mines equity placement announcement

Australian Mines Limited (ASX: $AUZ) has successfully completed an equity placement, raising $3,000,000 gross. The funds will be used to fulfill payment and share issue obligations to Lind Global Fund II, LP and SBC Global Investment Fund under the Share Subscription Agreements. The issue price per new share represents a 4.8% discount to the 5-day VWAP. The net funds raised will also be utilized for Brazil exploration, drilling, and working capital. The company's CEO, Andrew Nesbitt, expressed delight at the support received from shareholders and the continuous support from GBA during this transformative phase for AUZ.

Executive commentary on equity placement

AUZ's CEO, Andrew Nesbitt, expressed, 'We are delighted with the support from our shareholders and would like to thank Lind and SBC for their support and assistance. We are also very pleased with the continuous support from GBA during this transformative phase for AUZ.'

Summary of Australian Mines equity placement

Australian Mines Limited (ASX: $AUZ) has successfully completed an equity placement, raising $3,000,000 gross. The funds raised will be used to satisfy payment and share issue obligations to Lind Global Fund II, LP and SBC Global Investment Fund under the Share Subscription Agreements. Additionally, the net funds will be utilized for Brazil exploration, drilling, and working capital. The company is debt free, and no further shares will be issued under the Share Subscription Agreements. The issue price per new share represents a 4.8% discount to the 5-day VWAP and a 12.0% premium to the 15-day trading day VWAP. The company's CEO, Andrew Nesbitt, expressed delight at the support received from shareholders and the continuous support from GBA during this transformative phase for AUZ.