Juno Minerals' strategic capital raise

Juno Minerals (ASX:JNO) has announced a capital raising of $818,754 via a private placement to Ida Metals Investments Pty Ltd. The placement involves issuing 27,291,789 shares at $0.03 per share. This move will provide funds for exploration projects and working capital.

Comprehensive overview of capital raise

Juno Minerals has successfully raised $818,754 through a non-brokered private placement, issuing 27,291,789 shares at $0.03 each to Ida Metals Investments Pty Ltd. This transaction allows Ida Metals to hold a 13.04% substantial interest in Juno. The funds will be utilized to advance Juno's exploration projects and support general working capital needs. The share issuance was conducted under the ASX Listing Rules 7.1 and 7.1A, with 9,097,263 and 18,194,526 shares issued under each rule, respectively. Notably, the issue price reflects a premium over both the 15-day volume-weighted average price and the last traded price, indicating market confidence. The strategic involvement of Ida Metals as a significant shareholder could bolster Juno's future initiatives, while the decision to proceed with a non-brokered placement underscores the company's direct approach to capital raising.

Executive insights on capital raising

The announcement was approved by Greg Durack on behalf of the Juno Minerals Board.